St George’s National Property Report released today has revealed 24 locations across the nation that are likely to provide the strongest value for home buyers.
Suburbs have been chosen based on their location attributes, the value of housing in the area, the level of amenities in the suburb and the demographic mix.
According to St George chief economist Besa Deda, the locations should continue to grow and therefore suit buyers looking to live in a blossoming area and investors seeking capital growth.
In Sydney the best ‘value for money’ suburbs were Granville, Rockdale, Lidcome, Riverwood and Waterloo.
Granville’s 18.5 km distance to the inner city and median house price of $347,500 made it the standout performer in Sydney.
In Melbourne the city’s hotspots were Chadstone, Ashburton, Brunswick, Flemington and Fawkner.
According to Ms Deda, the 24 hotspots included an interesting mix of older demographic areas where the dwellings have great potential for renovation, and younger demographic areas where the dwellings offer good value for money.
“Savvy home buyers and investors should look outside the square and consider the areas which have not attracted the same level of attention as traditional blue-ribbon locations,” Ms Deda said.
“For example, some of the suburbs identified in the National Hotspot research include light industrial areas which are expected to eventually transform into residential areas with amenities.”