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ISCOVER
Staff Reporter
Despite numerous reports that there are no property bargains left in Australia, a new report has uncovered a list of inner city suburbs where units can still be purchased for less than $300,000.
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The Inner City Steals report from Smart Property Investment has identified 20 Australian suburbs within five kilometres of the nation’s capital city CBDs where investors can still pick up property for under $300,000.
The downside for investors seeking affordable investment property in Sydney is that just one suburb made the list: Ultimo.
“Ultimo has got to be a solid gold bet,” Australian Property Monitors' senior economist Andrew Wilson said.
“It really represents great value at the moment. If you had to bet your life on one of these 20 suburbs having capital growth over the next six to 12 months, you would pick Ultimo for sure,” he said.
According to the editor of Smart Property Investment Phillip Tarrant, the 2012 Inner City Steals report proves there are still affordable opportunities available in capital city centres for investors who know what to look for.
“Property markets close to the nation’s major CBDs have long been highly sought-after, not to mention some of the best performers in terms of capital growth,” he said.
“Increasing demand for inner city living and changing household demographics mean this property segment is set to remain in incredibly strong demand.
“Although property in these markets often has a high premium attached, the Inner City Steals report reveals that there are still properties within reach of most property buyers.”
Other suburbs included Highgate, Mount Lawley, North Perth, and West Leederville in Western Australia, Mile End, Goodwood, Wayville, Kent Town, Ashford, Keswick, and Rose Park in South Australia; North Melbourne, Carlton, and Melbourne in Victoria; New Town, North Hobart, West Hobart, Sandy Bay, and South Hobart in Tasmania.
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