According to a new report by the Select Residential Property Research Group [SRP] investors targeting large areas of Australia should consider turning to suburbs with constant price potential, despite the market cycle.
The study identified 10 suburbs in major cities and regions where prices could grow by up to 30% over the next three years.
"These suburbs all have a number of desirable features, however, one of the main reasons that housing prices are expected to increase is an imbalance between demand and supply," said Jeremy Sheppard, director of research at SRP.
At the top of the list is Melbourne's Balaclava. Currently, the suburbs have a high median price of $ 1.07 million and, over a three-year period, could increase by 30% to $ 1.4 million.
"The problem is that, even if prices are only half the forecast, regardless of the nature of the forecasts, the return on investment remains excellent over a short period of time," Sheppard said.
The Sydney Narraweena came in second, but its potential for capital growth is highest because of its median price of $ 1.3 million. In the next three years, homes in this suburb could cost $ 1.7 million.
Below is the list of suburbs and their three-year growth forecasts:
Main city / region
Suburbs
Median Price
Growth over 3 years (%)
Growth over 3 years ($)
Melbourne
Balaclava
$ 1.07 million
30.3
$ 324,711
Sydney
Narraweena
1.3 million dollars
29.7
$ 386,387
Wollongong
Helensburgh
$ 747,000
28.6
$ 213,446
Adelaide
Fullarton
$ 910,000
28
$ 255,214
Geelong
St Albans Park
$ 396,000
27.5
$ 109,050
Canberra – Queanbeyan
Charnwood
$ 449,000
27.4
$ 122,949
Newcastle – Maitland
Waratah
$ 494,000
27.4
$ 135,368
Sunshine Coast
Currimundi
$ 537,000
25.8
$ 138,514
Brisbane
Barn
$ 884,000
25.8
$ 228,020
Adelaide
Colonel Light Gardens
$ 732,000
26.5
$ 193,696
Source: Residential Properties Research Group
Top suburbs:
Goworthville
,
Gladesville
,
Mortdale
,
higher kedron
,
Alderley
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