Your Guide To Aussie Property Hotspots In 2018
Where to find a property bargain in Australia in the coming year.
If you’re thinking of taking the slightly daunting step of jumping into the Australian property market, 2018 could be the year to do it.
Last year saw the end of Australia’s decades long housing boom, with house prices expected to fall in 2018 after decades of growth. And while it doesn’t mean that buying a property in Sydney or Melbourne is necessarily cheap all of a sudden, it does mean that there are still ways to find a bargain if you know where to look.
TODAY chats to Money magazine’s Effie Zahos to get insider tips on the best places to purchase across four of Australia’s states.
TODAY: Starting in Queensland, where are the best buys?
EFFIE: Well Queensland will definitely be a state of contrasting fortunes. A lot of money is going into areas such as energy, transport and retail so Brisbane prices haven’t moved too well in the past, but it’s going to be a better year for them. Potential buyers in Queensland should look at Petrie, Springfield and Algester, where you can get properties for under $500,000. Here are some examples:
TODAY: And where should potential buyers be looking to purchase in Victoria?
EFFIE: Victoria is kind of following NSW as far as prices going down, but it is more outside of Melbourne. So, Ballarat East is really doing well due to the infrastructure there, and the transport links to Melbourne. As well as Ballarat East, if you’re looking to buy, check out Corio and Mernda. There are properties for under $500,000 in all three suburbs. Here are some examples:
TODAY: Where should investors be looking in South Australia?
EFFIE: South Australia is really good in the sense that its economy is doing well, its unemployment rates have been the lowest for five years and billions are being poured into there for energy projects. Where else are you going to find property this cheap? Buyers looking for property in South Australia should consider Port Augusta, Salisbury North and Mitchell Park. You can find properties that are under $200,000, and good value properties for under $500,000. Here are some examples:
Port Augusta $160,000
Salisbury North $265,000
Mitchell Park $470,000
TODAY: Finally, where should wannabe property owners look in Western Australia?
EFFIE: If you have your heart set on a property in the west of Australia, there are properties for $800,00 — and considerably less — available in a number of Perth suburbs. Here are some examples:
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- Compare RateCity’s cheapest home loans here*
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