Purchasing an investment property in the same suburb as your residential address might not be the best location to produce the highest returns. Interstate suburbs may return greater yields resulting in a more effective long term strategy and investment property portfolio.
So where should you invest in 2016? It can be difficult to predict where the next booming property hot spot will be, but here are four areas to consider:
With the Gold Coast set to host the 2018 Commonwealth Games (4 – 15 April), major infrastructure projects are underway, or recently completed, creating thousands of new jobs and drawing new residents to the area.
Projects include the $670 million dollar Pacific Fair Shopping Centre transformation that will see it become the largest mall in Queensland, the Gold Coast Aquatic Centre located in Southport’s Broadwater Parklands community space which will be the swimming and diving facility for the 2018 Commonwealth Games, and the $1 billion dollar mixed-use Pacific View Estate in the Gold Coast suburb of Worongary.
Look out for investment properties in and around these key infrastructure areas.
Gold Coast will not be the only Queensland City to benefit from the 2018 Commonwealth Games. Brisbane, Australia’s third largest City and Queensland’s capital, is a major business hub with huge resource sector investments and a thriving services industry positioning the City for significant growth over the next two decades.
With its sun-drenched climate, Brisbane provides residents with the ultimate taste of a sub-tropical paradise and is an enviable place to live. Queensland in general is a standout performer in key indicators including economic growth, job creation, and population growth.
West Melbourne’s population is set to more than double in the next 16 years, with forecast growth of some 144% through to 2031, so you can expect a high rental demand. A major drawcard to the area is the proposed E-Gate development, a $3-4 billion investment to repurpose West Melbourne’s rail yards into a thriving mixed-use precinct, which will become home to 10,000 people and result in high capital growth.
Being conveniently located to Melbourne CBD and Melbourne University, as well as Melbourne’s cultural heartland of Carlton, also make this area an exciting prospect and one to watch.
The M5 widening, WestConnex and the new Western Sydney Airport could all contribute to driving individuals and families to Sydney’s southwest.
The Western Sydney Airport has already created over 300 new jobs and could create up to a further 7,600 jobs during construction. Combine employment opportunities with reduced travel time for motorists, courtesy of the M5 widening and WestConnex projects, Southwest Sydney could see a rise in population and push property prices up in the future.
Want to know what properties we have available in and around these areas? Click here.