Opportunities in today’s housing market
While property is generally considered a sound investment, understanding what the market is doing based purely on statistics and what you read in the news can feel like deciphering complex algebra. We’ve taken a broad look at the investment opportunities in today’s housing market. Understanding market movement is the best way to ensure that you make the right decision with your money.
Queensland
As the Australian dollar continues to fall, and tourism in the region increases, The Sunshine State is expected to provide canny investors with a range of opportunities in the property market. Places five to 10 kilometres outside the Brisbane CBD and the Gold Coast could potentially become quite attractive for people in the tourist industry who’d like a comfortable home close to work.
And these opportunities extend further north as well. The Sunshine Coast, Cairns and Townsville are all expected to see similar benefits from an increased influx of tourists. And the fact that they can often be picked up for a fraction of the price of similar property in areas like Sydney or Melbourne definitely makes investing in property in Queensland an idea well worth exploring.
Western Australia
While the Village People probably weren’t exactly talking about real estate investment, the instruction, “Go West!” might just turn out to be a sound piece of advice in today’s housing market. Areas close to WA’s Margret River region can expect to see a similar process to that at plan in Queensland due to the influx of tourists, while the south west coast of WA may also see a rise.
High Wycombe, Spearwood, Bassendean, Morley and Scarborough have all been identified as potential growth areas, while property experts and economists have warned against making investment in regions like Baldivis, East Perth, Armadale, Ellenbrook and Riverdale.
Regional Australia
Sedate, less costly, smaller regional centres that aren’t too far from Australia’s capital cities are expected to prosper in coming years as well. And some of these regions are quite picturesque, like the NSW south coast, or the Mornington Peninsula and the Yarra Ranges in Victoria.
Look for towns with a population in excess of 10,000 people that are still on an upward growth trajectory. If possible find a place that has a diversified economy that can provide multiple sources of employment. Some areas exposed to industries that are becoming less prevalent (mining towns) are really feeling the pinch, and you want there to be a range of capacity for growth. Upgrades to Victoria’s regional rail network are set to benefit areas like Bendigo and Ballarat as well.
Conclusion
In the end of the day, the most important thing you can do is ask yourself what you are looking to achieve with your investment, and make the decision accordingly. While no one can predict the future with 100 per cent accuracy, we can make calculated guesses. Follow the trends, read the news, do your own research and identify the best place in Australia for you to invest in property.
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