Hottest properties mostly in NSW
Property price growth in Australia may have stalled over the past year or so, but experts say there are still plenty of areas around Australia where property prices are continuing to rise and countless locations where values are expected to rise in the near future.
No matter which state or territory you’re in, there’s no disputing that now is generally a great time to be getting into the property market, says Australian Property Investor deputy editor Vanessa De Groot, who compiled this year’s Hot 100 list.
It’s the fifth year in a row that API has compiled a list of the hottest 100 locations for property. New South Wales was the most represented state in the Hot 100, making up 29 per cent of the locations, followed by Victoria (23 per cent) and Queensland (19 per cent).
Some of the locations which qualified for API’s Hot 100 this year include New South Wales’ Ashfield, Newcastle and Tempe, Victoria’s Ashwood, Edithvale and Thornbury and Queensland’s Albion, Gladstone and Toowoomba.
South Australia ranked fourth with Clearview, Elizabeth and Semaphore, while Western Australia came next with Geraldton, Padbury and South Perth.
“It’s undoubtedly a buyers’ market out there right now – with fewer buyers around there’s less competition and more time to choose a property carefully and negotiate a bargain,” Ms De Groot says.
“But investors also have time up their sleeve to thoroughly research where they want to buy… and that’s where API comes in. We’ve put together our annual Hot 100 list to help investors find locations that are expected to show the best future capital growth.”