The most popular areas to live in Australia are either situated near the beach or the bush, say real estate experts. Another consideration for many home buyers, is affordability.
According to recent reports on changing supply and demand, Sydney is still dominating the property market in Australia. New South Wales (NSW) is the number one state, as it has the highest number of ‘movers’ in terms of property supply and demand.
The outer suburbs of Sydney have recorded the biggest rise in price. One such suburb is Curran Hill, which jumped 529 places in rankings.
Best Growth Suburbs for Under $550,000
Homes situated on the NSW Central Coast are growing in popularity. Tumbi Umbi jumped 494 spots, and Narara 367. Eltham moved 236 spots up the rank.
The changes in the rankings for the top sellers indicates that suburbs in the National Top 100 have increased the most in terms of supply and demand.
Top 10 Movers of 2015
What Are Buyers Looking For?
National state-by-state data indicates that home affordability, lifestyle and reduced commuting times to work and amenities are all prominent buying considerations. As inner city markets in Sydney and Melbourne become less affordable, buyers and investors are beginning to seek out more affordable suburbs.
Real estate agents suggest that buyers who are looking to buy near the city should seek out areas that have green space, recreational areas and bike and walkways. Good alternatives to Sydney are Wollongong and the Central Coast. The Central Coast has some great locations and waterways. Wollongong has a university, which means it will be a strong market for investors.
How Have Investment Lending Changes Affected the Market?
Rises in investment lending interest rates by banks has resulted in investors searching for property in more affordable areas. However, buyers need to be aware that just because an area is more affordable, this doesn’t mean that they are guaranteed that the property will have stronger capital growth. Suburbs may also sit dormant for some time, before they start to move-up in price. To avoid any disappointment when investing, it is recommended you do extensive research, and that you buy in an area that is earmarked for growth.
The Biggest Movers By State in 2015
|Narre Warren Nth||99||157|
Which Suburbs Have the Highest Rental Yield?
One bedroom units in Cairns, Miami, Port Douglas and Noosaville are within the Top 10 Suburbs with the Highest Rental Yield according to Realestate.com.au data. Caboolture in QLD had the highest average rental yield in Australia at 15.2 percent. Let’s look at the data.
Top 10 Suburbs in Australia with the Highest Rental Yield
|Suburb||State||Rental Yield (%)||Median Price $|
Top 5 Suburbs with the Highest Rental Yield By State
|State||Suburb||Unit Size||Rental Yield %|
|Cairns City||1 bed||13.2|
|Port Douglas||1 bed||11.3|
|The Entrance||1 bed||8.7|
|Rose Hill||2 bed||7.7|
|VIC||Box Hill||1 bed||11.1|
|Melon Sth||2 bed||7.1|
|ACT||Canberra City||1 bed||7.2|
|The Gap||2 bed||6.4|
|Kurralta Park||1 bed||6.7|
Do you want to know more about investment home loans? Then contact eChoice. We can help you save.
Written by eChoice
Since 1998, eChoice has helped more than 50,000 Australians secure a home loan through its network of over 25 lenders and hundreds of loans. Best of all our service is cost and obligation free!