Posted: 22 November, 2016
The Top Ten Property Hotspots In Each State Have Been Revealed
Is your suburb on the list?
The top ten property hotspots being targeted by buyers in each state have been revealed.
Data was gathered by eChoice over a three month period and demonstrates recent trends towards borrowers looking to purchase in specific areas of the country. The results show where people are looking to live and buy.
The top property hotspots in NSW were Blacktown, Liverpool and Parramatta. In Melbourne outer suburb Werribee topped the list, followed by inner city suburbs South Yarra and Richmond.
In Queensland it seemed that buyers were looking towards the Gold Coast for their property purchases, with Southport, Surfers Paradise and Pimpana topping the list.
Mandurah, Baldivis and Hamilton Hill took out the top positions for WA, showing a diverse range of interests from buyers. In SA buyers were looking for homes in Parafield Gardens, Mawson Lakes and Mount Barker.
eChoice CEO Peter Andronicos says, “The hotspots clearly identify areas which are appealing to different categories of borrowers, including new purchasers, upgraders and investors. This is particularly evident through the appearance of both established and emerging suburbs in metropolitan areas, as well as the inclusion of regional towns and cities across the country.
“The presence of regional areas in the data would suggest to us that with interest rates still at historic lows, some borrowers are either seizing the opportunity to enter the market because they can afford to purchase in those areas, or they looking for a lifestyle change.”
These suburbs tend to have at least one of these characteristics -
1. They may have the potential to show growth in the future through existing or planned investment in local infrastructure and a diversity of local industry.
2. They are affordable.
3. They have undergone a process of gentrification.
4. They offer significant lifestyle benefits.