Woolloongabba, in east-central Brisbane, has been named Australia’s best suburb for residential property investment by ME Bank.
The national urban development consultancy firm Ethos Urban was mandated by ME Bank to determine the top 20 suburbs for investment.
The company took into account the impact of new transport infrastructure, average rental yields, recent population growth, median house prices, average rental prices, and the attractiveness of the lifestyle.
With Woolloongabba in first place, Queensland also took second place with the Burleigh Heads of the Gold Coast and occupied a total of five of the top 20 positions.
Ethos Urban Director Chris McNeill said the list demonstrates the huge impact of new transport infrastructure in creating investment opportunities.
“Queensland’s investment in Woolloongabba and the Gold Coast has been essential,” he said.
“The new Cross City Rail and Burleigh Heads Light Rail will increase the value of the load along the scenic Gold Coast, adding to its already valuable apartment life and growing focus on retail, creating a better connectivity to both Coolangatta (including airport) and Surfers Paradise for the three Gold Coast suburbs of Burleigh Heads, Mermaid Beach and Miami.
NSW occupied nine places in the top 20, with Five Dock and Rozelle in west-central Sydney, ranking in the top five thanks to key infrastructure projects.
“Five Dock, Rozelle, Parramatta, Pyrmont and Concord will greatly benefit from the high-speed, high-frequency metro line that connects them to the Sydney CBD,” McNeill said.
“This adds to their appeal to investors following recent growth in rental prices, median house prices and the shift in white collar workers.”
The Victorian suburbs of North Melbourne, Preston and South Melbourne all made the top ten, benefiting from projects such as the North Melbourne Underground, the removal of level crossings and the modernization of the Melbourne Underground.
Three suburbs in Western Australia made it to the top 20, but no other state was on ME Bank’s list.
“While ACT, South Australia, Tasmania and the Northern Territory had no top 20 entries, that doesn’t mean they lack favorable investment options, ”said Mr. McNeil.
“Based on the statistical approach and methodology applied, it just turns out that the most impactful transport projects currently being undertaken are in New South Wales, Victoria, Queensland and Western Australia.
The full list is available below:
1. Woolloongabba, QLD
2. Burleigh Heads, QLD
3. Five Docks, NSW
4. Melbourne North, VIC
5. Rozelle, New South Wales
6. Ellenbrook, WA
7. Parramatta, New South Wales
8. Crows Nest, NSW
9. Preston, VIC
10. South Melbourne, VIC
11. Yanchep, WA
12. Waterloo, New South Wales
13. Coffs Harbor, NSW
14. North Sydney, New South Wales
15. Pyrmont, New South Wales
16. Claremont, WA
17. Mermaid Beach, QLD
18. Miami, QLD
19. Concord, New South Wales
20. Fairfield, Queensland