With property markets heating up across the nation, Onthehouse.com.au today released research from its property data experts Residex, showing the suburbs around Australia that present the top investment opportunities for residential property buyers, and the streets with the best renovation potential in these suburbs.
The findings show that savvy investors are targeting outer city regions, as they continue to deliver strong growth prospects for astute investors โ based on rental and capital returns. While New South Wales continues to dominate returns charts, Australiaโs top suburb is in Queensland.
John Edwards, Consulting Analyst for Onthehouse and Founder of Residex, said: โThereโs been a lot of noise in the media recently regarding the possibility that markets are overheating, especially in major metro areas like Sydney and Melbourne. However, with interest rates still low, investors who do their research will find some very attractive options.
โOne of the oldest tricks of the trade that buyers shouldnโt forget about is looking for the worst house on the best street. Renovating a property can add immediate value if itโs done right.โ
Calculated from rental yields and five year capital growth predictions, with industry surroundings, confidence ratings and employment opportunities taken into consideration, Onthehouse have identified 10 top suburbs for investor returns in Australia:
Residex models also drill down to a street level, with data suggesting that Morayfieldโs Brewers Rd in Queensland offers the best opportunity to profit from home renovation. In New South Wales, Mount Annanโs Commelina Drive also offers exceptional renovation opportunities.
Some of the top streets with renovation potential:
- QLD: Morayfieldโs Blewers Rd
- NSW: Mount Annanโs Telopea Circut
- WA: Seville Groveโs Glasgow Way
Mr Edwards commented: โWhile we have full confidence in our statistical models, it is vital that the data is paired with insights and local knowledge. Our models have indicated that these areas are the top picks of markets we think are going to perform well โ but only by building personal knowledge can investors really make an astute purchasing decision.โ
โToday buyers have a number of sources to turn to, from their local property agents to information available online. At Onthehouse, our primary goal is to share information for free and help buyers discuss this information with local experts to make informed decisions.โ