Where are the most in-demand suburbs in the country?
- By Peter Gordon
- •
- 09 Nov, 2020
The most in-demand suburbs in the country are Bangalow near Byron Bay along with Thirroul and Bulli near Wollongong.
These regional locations are averaging around 10,000 views per listing on realestate.com.au, according to the latest REA Group report.
Interest in Bangalow has pushed house prices up 1,281 per cent in two decades—from $76,025 in 2000 to $1.05 million in 2020.
Property listings around Byron Bay have continued to roll in during the pandemic with buyers attracted to the beaches and growing celebrity-status of the shire which is home to the Chris Hemsworth, Elsa Pataky, Carrie Bickmore and Matt Damon.
Meanwhile, Sydneysiders are taking advantage of prices and rent for both homes and business space in Wollongong which are far cheaper compared to the capital city, less than two hours away.
The REA Insights Regional Australia Report 2020 shows remote-working has also accelerated interest in other parts of regional Australia.
REA chief economist Nerida Conisbee authored the report and said the movement out of capital cities has led to strong property market conditions in many regional areas around Australia.
“Prior to Covid-19, fringe cities were benefiting from population growth and affordability and that trend has continued to accelerate,” Conisbee said.
“The biggest change occurring is the rising popularity of areas that are not within commuting distance to a CBD.
“Over the last 20-years, beachside areas have become more attractive, which has resulted in significant price growth.”
The resurgence in the mining sector has also boosted interest in regional areas with Orange, Karratha, Townsville and Perth reaping the benefits of a property boom.
Article courtesy The Urban Developer 5th Nov 2020
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Sydneysiders and Melburnians, put aside your equally outstanding flat whites for a moment. Stop bickering about whether great beaches beat cool laneways (they do) and desist from debating whether all baristas require waxed moustaches (ideally).
Because Brisbane is closing in on the title of Australia’s best city, and we must join forces to keep this subtropical upstart in its place.
Time magazine recently named Brisvegas on its “World’s Greatest Places” list, and omitted our cities. It’s a huge shock (and who knew they still published Time magazine?). But they might be onto something.
Time points to the 2032 Olympic and Paralympic Games, which will be hosted in the maroon metropolis. Brisbane will do a fine job, even though it’ll baffle the world when rugby league is added to the schedule and Queensland is allowed to field its own team.
Time’s most radical claim is that Brisbane is worth visiting now, but tourism is surging. Not only did Lin-Manuel Miranda recently drop in to catch Hamilton , but hundreds of Hamilfans flew up to watch his interview with Leigh Sales (presumably unaware that it would subsequently arrive on iView for free).
A leading local agent has appraised each side of these duplex's to be worth $665k on completion and rent for $495 per week. So that is massive potentail instant equity of up to $390K on completion, which is incredibly hard to find.