Home News What makes a suburb buck the housing downtrend?

What makes a suburb buck the housing downtrend?

Font size :

Here are some suburbs to watch out for next year

Many suburbs in Australia are still booming despite the housing downturn, thanks to several factors which continue to boost demand in these areas.

In a report on News.com.au, realestate.com.au chief economist Nerida Conisbee said infrastructure, lifestyle factors, affordability, and appeal to young home buyers are the key ingredients which make suburbs resistant to the housing downturn.

Conisbee said an improvement in infrastructure, be it an expansion of a shopping centre or an establishment of a new café, can drive home prices up.

"Infrastructure projects are definitely a big one — the new Melbourne Airport rail link and the suburban train loop will open up a lot of areas to higher price growth, for example, and Sunshine, in particular, is the main beneficiary as both rail lines go through there — it may end up becoming the western suburbs’ first major office precinct,” she said.

In terms of lifestyle, Conisbee enumerated three factors which can spell the fate of a suburb: retail, schools, and public transport.

"If a suburb has those three things, it will typically do better than one that doesn’t," she said.

Perhaps the most important indicators in forecasting if a suburb will outpace its peers are affordability and appeal. Young buyers exploring new areas results in gentrification and improvement in housing stock, which then leads to price growth, Conisbee said.

Conisbee identified several areas across Australia that are poised to continue thriving in 2019. These include:

Melbourne:

  • Upwey
  • Park Orchards
  • Middle Park

Adelaide

  • Unley
  • Adelaide Hills

Queensland

  • Paddington, Brisbane
  • Chandler, Brisbane
  • Tallebudgera Valley, Gold Coast

Sydney:

  • Eveleigh
  • Brookvale
  • Waterloo

It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan

Mortgage News and Articles

Banning commissions is the best option for brokers and borrowers, says industry figure Banning commissions is the best option for brokers and borrowers, says industry figure

A broker has written an open letter arguing that removing commissions will benefit the whole industry Read more

More Aussies to struggle with mortgage repayments: Moody's More Aussies to struggle with mortgage repayments: Moody's The ratings agency expects an increase in delinquencies over the next few months ... Read more

Will Labor’s negative gearing changes only worsen the housing downturn? Will Labor’s negative gearing changes only worsen the housing downturn? Rate cuts would cushion the impact of the changes, but prices are likely to fall further ... Read more

Borrowers turn to customer-owned banks for home loans Borrowers turn to customer-owned banks for home loans They are ditching the Big Four banks due to the controversies uncovered during the royal commission's queries ... Read more

More mortgage news and articles

Sponsored Links

Friday, Mar 22, 2019
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Let us help you find the right home loan for your needs.

Tell us a bit about your circumstances:
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords