Following house prices of more than 20% across the country in 2021, a new report has identified a number of key suburbs where growth is still expected in 2022.
Real estate investment specialist Paul Glossop of Pure Property Investment has compiled a list of suburbs where residential real estate is expected to grow further in the coming year.
“There are incredible opportunities in the market in 2022 and while some suburban real estate markets have dominated the country in 2021, there is a whole new set of suburbs set to explode in 2022,” Glossop said.
Blue Haven, NSW
Located 51 miles from Newcastle, Blue Haven on the central NSW coast currently has a median house price of $ 580,000. Mr Glossop said Blue Haven has seen solid growth over the past year but remains affordable compared to neighboring suburbs.
The suburb of Cessnock is located 49 kilometers west of Newcastle and is close to a wide range of employment drivers, according to Mr Glossop. It has a median home price of $ 425,500, with strong growth over the past 12 months and lower vacancy rates recorded.
Singleton Heights, NSW
With a median house price of $ 445,000, Mr Glossop said Singleton Heights fell into a similar category to Cessnock due to its location about 77 kilometers northwest of Newcastle and its proximity to the Engines of the ‘use.
An influx of remote workers has moved to Dubbo, 390 kilometers from Sydney, over the past two years. The city’s diverse economy and affordable lifestyle are expected to generate strong growth and cash flow in the years to come, while the current median home price is $ 415,000.
Like Dubbo, a significant number of remote workers moved to the Tolland suburb of Wagga Wagga in 2020 and 2021. The suburb has a median house price of $ 290,000 and is expected to remain strong in terms of growth and price. cash flow for the next two or three years. year.
Located on the Hume Highway, a short drive from Canberra and Sydney, Mr Glossop said Goulburn was well positioned for the long term with tight vacancy rates and an affordable housing market, including a median price. houses worth $ 470,000.
About a 30-minute drive from Newcastle and 90 minutes from Sydney, Gwandalan on the central coast has a median house price of $ 635,000 with strong employment opportunities and school pools in addition to proximity to the ocean and Macquarie Lake.
Mr Glossop said Toukley, 54 kilometers from Newcastle, had seen excellent growth last year with a median house price of $ 640,000. The city is considered affordable compared to neighboring suburbs with solid infrastructure, school choices, and close proximity to the ocean.
Warners Bay, NSW
Warners Bay is 10 miles from Newcastle and has seen excellent growth over the past two years, according to Mr Glossop, who said its location near the ocean and Lake Macquarie with access to Sydney makes it a choice. of choice for sea changers.
Bundaberg East, QLD
North of theCoast, Bundaberg East has a current median home price of $ 302,500. Mr Glossop said the suburb is experiencing a resurgence in agriculture, tourism and overall affordability.
Dundowran Beach, QLD
Dundowran Beach, 160 kilometers from Noosa, is also experiencing a resurgence in agriculture, tourism and overall accessibility similar to that of Bundaberg East, with a median house price of $ 697,500.
Centenary Heights, QLD
Centenary Heights is located 4 kilometers from Toowoomba, with a median home price of $ 400,000. There is currently a low supply of established housing, higher rents and vacancy rates below 1% in the suburbs.
Located 78 kilometers from the Sunshine Coast, Gympie has experienced solid growth over the past three years with a median house price of $ 342,500. It is expected to remain a strong market for first-time home buyers and investors as it expands across the Sunshine Coast.
Little Mountain, QLD
Located in the Sunshine Coast region of Queensland, Little Mountain has seen very solid growth over the past two years and is also expected to benefit from a booming expansion throughout the region. The median home price is currently $ 687,500.
Highlighting its proximity to Amberley Air Force Base, excellent secondary schools and Ipswich Central, Mr Glossop said Newtown, 40 kilometers from Brisbane, remains an affordable market with a median property price of $ 442,500 and potential rental yields of almost 5%.
Property refers to something tangible or intangible over which an individual or business has legal rights or ownership, such as houses, cars, stocks, or bond certificates.