Coastal towns set to be the next hot spots

Jan 07, 2009 - Boris Chan

In its final property pulse report for 2008 RP Data's leading property analysts- Tim Lawless and Cameron Kusher, combined to predict what their 2009 property hot spots would be for new buyers and investors.

The hotspot selections are based on what they deem will be the best performing areas during 2009.

Listed below are some of the hotspots for Victoria, Western Australia, New South Wales, Brisbane, South Australia, Tasmania, and Queensland.

Suburb

Local Gov. Area

Property Type

Median Price

State

Deer Park

Melton

House

$255,000

VIC

Kensington

Melbourne

House

$540,000

VIC

Collingwood

Yarra

House

$566,250

VIC

Reservoir

Darebin

House

$388,000O

VIC

Oakleigh East

Monash

House

$529,500

VIC

Flemington

Melbourne

Unit

$303,500

VIC

Carlton

Melbourne

Unit

$324,000

VIC

Brunswick West

Moreland

Unit

$314,000

VIC

Abbotsford

Yarra

Unit

$347,500

VIC

Prahran

Stonnington

Unit

$411,000

VIC

Ocean Grove

Greater Geelong

 

$390,000

VIC

Wonthella

Geralton

 

$339,500

WA

Lluka

Clarence Valley

 

$380,000

NSW

Ballina

Ballina

 

$422,500

NSW

Woolgoolga

Coffs Harbour

 

$330,000

NSW

Coopers Plains

Brisbane

House

$405,000

QLD

Zillmere

Brisbane

House

$377,000

QLD

Mount Gravatt East

Brisbane

House

$450,000

QLD

Wooloowin

Brisbane

Unit

$307,500

QLD

Coopers Plains

Brisbane

House

$$405,000

QLD

Zillmere

Brisbane

House

$377,000

QLD

Mount Gravatt East

Brisbane

House

$450,000

QLD

Halifax

Hinchinbrook

 

$200,000

QLD

Nambour

Sunshine Coast

 

$359,000

QLD

Thuringowa

Townsville City

 

$342,000

QLD

Upper Burnie

Burnie

 

$180,750

TAS

Factors such as rising unemployment and the economic uncertainty will continue to have an effect on residential property value growth. There are also a variety of factors that will help to encourage investors such as falling interest rates, increasing affordability, rising rental rates, and a shortage of housing.

The first homebuyer's opportunity to buy is coming to an end with the bonuses in the current first Home Owners Grant closing at the end of June 2009.

The 2008 RP Data Hotspots selections focus on both houses and units. Their selection is based on strategic affordability and identifies those suburbs that represent good value for money based largely on location, necessities and social options.

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