The 60 hotspots across the country where property prices are set to soar after a few years of stunted or negative movement have been revealed.
“Property consultant and analyst John Lindeman has identified potential slingshot suburbs using two main indicators – national housing finance data and local sales trends in this month's issue of Australian Property Investor,” deputy editor Shannon Molloy says.
The bounce usually begins with a surge in first homebuyer activity in areas where the volume of cheap properties on the market starts to dry up. Funnily enough, median prices in these areas tend to dip slightly just before snapping back, Molloy says.
“If you find a suburb where sales have risen but the median sale price has fallen, the tell-tale sign of the moment before a slingshot impact, it might be worth a closer look.
“By looking at each suburb across the country to pick those where current sale prices are in the ranges for first homebuyers but there are signs of imminent supply shortages, we’ve compiled a comprehensive list of potential slingshot locations.
“Units in North Albury and houses in Corowa are two rural New South Wales spots to watch, while in Sydney units in Punchbowl and houses in Campbelltown look to be on the cusp of a rebound,” Molloy says.
In Melbourne, units in Gardenvale and houses in Frankston North made the list while units in the regional town of Cobram and houses in Maryborough were also identified.
“Units in the Perth suburb of Yokine could see the slingshot effect while houses in Medina are also expected to see price rises,” Molloy says. “Christies Beach in Adelaide was picked for units while Parafield Gardens made the list for houses.”
When it comes to houses in Queensland, the regional city of Rockhampton was identified while Logan Central and Russell Island made the metropolitan list.
“The slingshot effect could eventually send prices upwards – this analysis might just allow investors to benefit by riding the price wave before it really breaks.”
In this month’s issue of Australian Property Magazine, John Lindeman looks as what measurements we should be looking at when purchasing property and assessing the housing market.
The 60 Property Hotspots:
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