Australia is a big country, but since large chunks of our population reside in a handful of capital cities it seems the majority of newspaper headlines are focused on what is happening in those locations alone. While Sydney and Melbourne have experienced booms in recent times, it may surprise you that some regional locations are going from strength to strength as well. Here’s some of those quiet achievers and some details we should really be looking at rather than the headlines.
The recently released Population and Residential Building Hotspots report from the Housing Industry Association (HIA) outlined Australia’s top 20 housing market ‘Hotspots’. To be clear, to make the list in the HIA’s eyes, a ‘Hotspot’ is defined by there being at least $150 million worth of residential building approved over the past 12 months, as well as having experienced population growth exceeding the national average of 1.4%.
Upon the report’s release senior economist for the HIA, Shane Garrett, commented that housing was not confined to the major capitals, and that the “report shows that regional Australia is also peppered with housing hotspots”.
This newly released data states that regional Australia has provided a “strong showing”. Coming in at number 1 on the list was the outer Gold Coast suburb of Pimpama in Queensland. Perhaps due to the lead up to 2018’s Commonwealth games, the residential and population explosion in this market has been nothing short of remarkable with more than $340 million worth of residential building approved and a population surge of a whopping of 35.1 per cent.
Sound property investment requires a tried and proven checklist, and while population growth plays a major factor it only represents one portion of a much larger system. When it comes to starting or building a property portfolio it’s vital that you plan for the future, both the future of your properties and their locations, as well as for you and your family. To find out more about how I target rising markets register for my next free live event near you.
As I mentioned above strong and steady population growth can provide security for long term buy and hold property investments, but in reality there are seven key market indicators that investors needs to have a firm grasp of before entering any property market.
These include the aforementioned population, as well as Development, Infrastructure, Supply & Demand, Affordability, Timing, and market Trends.
The last two, timing and market trends, do work hand in hand. Using timing on a local level as an indicator as to when to enter based on capital growth in recent years, and market trends as a broader state level indicator taking into account Government incentives, changing investment laws and lifestyle trends.
Our property analysts are perpetually surveying the data to keep our clients continually informed on the next rising markets around this great Nation of ours. They put in the long hours so you don’t have to. To hear more about our services please register for our next free live event now.