There is no denying the fact that Australia’s real estate market is great for property investment. It offers excellent options, amazing possibilities and a reason to make more money.
Of course people love buying homes in the centre of cities where you can explore the world-best amenities. However, the trend has been changing and people and property investors are heading towards suburbs to invest in Australia.
Due to the COVID-19 situation, the Australian property market witnessed some unexpected changes in 2020. People start doing work from home. Interest rates declined and that’s why the government offered grants and subsidies to first time home buyers.
This has encouraged investment in the residential suburbs of Australia. So, we have compiled a list of suburbs where you can invest and generate higher ROI in the near future.
1. Melton, Victoria
This beautiful suburb is located 45kms away from the Melbourne central business district. Brimmed with beautiful landscapes, vibrant nightlife culture and food culture, Melton offers great housing options. The median price for a house is just $392,000, which is quite affordable.
According to the experts, the next few years will be great for the local property market of Melton, and you will witness a boom in the residential property sector.
2. Camp Hill, Queensland
Situated close to the Brisbane CBD, Camp Hill is a great suburb offering a range of top-rated schools, healthcare facilities and entertainment houses. If you are looking options for a property investment, then choose Camp Hill.
The median price of a 3-bedroom house is around $805,000 and an average rent is $490 per week. This suburb has a huge demand in the current situation and it will increase in the next few months or years.
3. Millswood, South Australia
Millswood is one of the promising suburbs in Australia. The suburb has witness a fantastic grow in the past few years, with an increase in the average house price of 20 per cent.
You should opt for this place if you are looking for a property in an Australian real estate market.
4. Australian Capital Territory
The development in the infrastructure sector has increased the property prices in Franklin. It is one of the best suburbs in terms of property investment. The average price for a 3-bedroom house is $560,000. The best part is that the residential area is within the close proximity to the airport and the Central Business District.
Though it is one of the most expensive suburbs in the list, the demand for residential properties remain on the top- all thanks to the high-end amenities, cultural vibes, and electrifying nightlife scene. The suburb is located close to the eastern and inner west suburbs of Sydney. The median price for a house in Bardwell Park is $1.4 million- which is big ticket.
These are the list of 5 best suburbs where you can invest in Australia. Make sure you do proper research, do read the current market trends and other key aspects to find the best option in your most desired location.