As anyone interested in property investment in Australia at the moment would know, it is important to be aware of as much of the data being released on the market as possible. Being fully informed means being able to make better investment choices, and understanding the way the property market is heading in the next 6 to 12 months. For example, the latest information from Realestate.com.au on the most desirable suburbs for existing property provides some great insights into the current mood and motivation of buyers and sellers.
Released every quarter, the survey ranks suburbs based on supply and demand data for existing property. Findings for the quarter leading up to December included:
- Overall, South Australia topped the list in December, with the most suburbs searched on the Realestate.com.au website. The 4 most popular suburbs included Parkside, Norwood, Unley Park and Unley. These areas are all well established suburbs and located within a 5 to 10 minute radius of Adelaide’s CBD. They are also known for their community feel and lifestyle options, with entertainment and facilities such as good schools and transport. Other popular areas that buyers were interested in included beachside suburbs such as Henley and Brighton.
- In NSW, popular suburbs for property searches included areas in the Sutherland Shire such as Engadine. This area is still relatively affordable for families and is attractive for its proximity to parkland and beaches.
- Property buyers looking in Victoria were continuing the trend for inner city suburbs such as Albert Park and East Melbourne. Demand for existing property and brand new apartments continues to be strong within the areas close to the CBD, as well as other suburbs such as Ringwood where there is exceptional access to transport and facilities such as shopping centres.
- In Queensland buyers were looking for a community feel, good local facilities and proximity to the city. Demand for established properties was strong in areas such as Holland Park, Newmarket, Spring Hill and Paddington.
- In Western Australia, the inner western suburb Shenton Park was the favorite among property buyers. The popular suburb is close to Kings Park and well served by facilities such as transport and schools. Other suburbs where property was sought after included Nedlands, Leederville and Melville.
Lessons For Property Investors
As can be clearly seen from the information from the survey, buyers of established properties are overwhelmingly attracted to areas with great facilities and amenities, a good community feel, a selection of transport options and proximity to the city. There are two lessons from this data for people interested in property investment in Australia: the first is that popular suburbs with buyers also tend to be popular with those looking to rent. Buying an investment property located close to a major capital city will mean that you will be more likely to find high quality tenants who are looking for the features and attractions found in these suburbs. The second lesson is that holding an investment property in these popular areas – over a 10 to 15 year period – will be profitable and provide you with great capital returns if you decide to sell it.