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Despite an overall slower property market projected for the coming year, RP Data’s 2009 Property Pulse Report has highlighted the suburbs that will offer value for money and potential for strong capital growth.
“The markets that are most likely to record good capital growth over the next 12 months are those that hold that ‘driver’ appeal,” Tim Lawless, RP Data’s national research director, said.
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Mr Lawless believes a variety of factors will act as market drivers in these areas, such as falling interest rates, increasing affordability, rising rental rates, improving investment yields and a shortage of housing.
“First home buyers and investors will be the first to jump on these suburbs,” he said.
According to RP Data, property hot spots are those with strategic affordability – those that represent good value for money based largely on "location, necessities and social options".
Examples of those suburbs highlighted are as follows:
Sydney: Toongabbie, West Ryde, Ultimo, Crows Nest, Canada Bay
Melbourne: Deer Park, Flemington, Kensington, Prahran, Collingwood
Brisbane: Coopers Plains, Fortitude Valley, Camp Hill, Zillmere, Redcliffe
Regional: Upper Burnie (TAS), Woolgoolga (NSW), Wonthelia (WA), Halifax (QLD), Mount Barker (SA)
