The PRDnationwide Second Half 2016 Property Hotspots Report highlights a number of suburbs within 20 kilometres of the CBDs of capital cities.
In determining the hotspots, the report examined a broad range of investment and growth factors. Some of the key metrics include short and midterm median house price growth, online interest, volume of sales, vacancy rates, median rental price, and rental yields.
The planned commercial, residential, infrastructural, and industrial projects in these areas were also taken into consideration.
According to Tony Brasier, chairman and managing director of PRDnationwide, investment in current project developments was a common factor among these suburbs.
“The amount of development activity taking place in these suburbs and surrounding areas is very encouraging. New roads and infrastructure, shopping centres and commercial precincts are reliable indicators of future price growth,” he said.
Among the capital cities, Sydney and Melbourne have once again emerged as solid performers.
“The report reveals Melbourne and Sydney have continued to record median price growth – defying expectations they may stagnate,” Brasier said.
Brisbane has benefited from rising house prices in Sydney and Melbourne, and its comparable affordability is spurring new interest from interstate and overseas investors.
“Perth has faced the most challenging market, with some positive signs in a few select suburbs despite a general weakening during 2016,” Brasier said.
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