The ones that got away

Money Magazine Australia - - MY MONEY | IN BRIEF -

If you could turn back time to 10 years ago and in­vest in prop­erty, where would you choose to buy?

If you had a spare $1,106,358 in your pocket in May 2008, you’d be hot-foot­ing it to the Syd­ney sub­urb of Strath­field: here you would buy a house that would go on to achieve a 172.6% lift in value over the next decade to be Aus­tralia’s top me­dian value of $3,015,932 in May 2018, ac­cord­ing to on­the­, which looked at the 10 top-per­form­ing suburbs in each state over the past 10 years.

If you had a smaller bud­get then Der­rimut (in Mel­bourne’s Brim­bank) would be worth a look. The sub­urb de­liv­ered a whop­ping 257.9% lift, soar­ing from $183,352 to $656,195. The rea­son for the strato­spheric growth, says on­the­, is the fact that 10 years ago Der­rimut was brand new and growth has since been swift. With com­muter links en­sur­ing good ac­cess to the CBD, many ameni­ties (in­clud­ing recre­ational and ed­u­ca­tional fa­cil­i­ties), plus plen­ti­ful green spa­ces and parks, it’s pop­u­lar with fam­i­lies and young pro­fes­sion­als.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.