After a year of numerous changes in Australia’s real estate market, the country’s home investment situation is comparable to a rollercoaster ride.
With the increased levels of tourism and rising interest, investing in properties in Australia is popular amongst newbies and real estate titans alike all around the world. More investors continue to see significant boosts in profit. Regardless of whether you’re planning to flip a home, rent it out, or live in it for the long run, it should go without saying that Australia is the country to watch out for when making real estate investments.
In spite of the current wildfire situation, Australia’s real estate industry continues to experience astounding levels of growth for buyers, sellers, and brokers alike. 2019, in particular, was an especially good year for the Australian market as almost every property experienced a significant increase in valuation. Even so, 2020 is slated to see even greater boosts in value growth, especially when it comes to suburbs.
If you’ve been looking to start your real estate portfolio or wanting to check more investment options, here are a few Australian suburbs that are definitely worth putting your money into:
Victoria
While Victoria may be filled with an abundance of rising stars in real estate, the suburbs of Brighton and Heyfield are two options that you should take into consideration.
In 2019, Brighton saw a monumental record of $925,353,902 over 430 sales—an astounding figure that shows just how many properties are being sought after and sold in a year. On the other hand, the regional suburb of Heyfield saw the largest increase across the entire states with a total record of $9,534,500 over 41 sales, or 100.6 per cent increase.
New South Wales
Although it saw a significant decline in sales for 2019, NSW’s suburbs can easily be seen as appreciating properties primarily because their owners refuse to let go of them. In spite of the decline in sales across the entire province, Coleambally is slated to be the best option out of the bunch as it hit a record $8,941,206 over 27 sales, which brings it to a total sales and value increase of 170.5 per cent.
Queensland
Should you find yourself in the market for a location that has experienced the largest sales value increases in recent years, then it’s best to set your eyes towards Queensland.
The Sunshine State’s Spring Mountain Suburb recorded an astounding 356.9 per cent sales value increase, with a record-breaking $41,473,228 over 91 sales. While it may have experienced a slight decline of 11.8 per cent, Surfer’s Paradise is a suburb to watch out for as it landed one of Australia’s highest total value of sales at $816,360,562 over 1,348 sales, a sign of a suburb that’s open for investment.
Final words
As the Australian real estate market continues to provide even more attractive investment options in each passing year, it has established itself as an investor’s haven for any kind of budget. While there may be hundreds of different profitable options to choose from, the five suburbs mentioned on this list are expected to see the greatest levels of profit in the short- and long-term for anyone who invests in them.
Valstar Valuations is a Sydney-based residential property valuation agency. With years of experience under our belts, we’re just the professionals you need by your side whether you’re looking to buy or sell an investment home. Get in touch today to see how we can help!