McGrath Estate Agents’ chief executive John McGrath has identified Australia’s top 10 performing regional suburbs.
According to Mr McGrath, some blue ribbon regional suburbs are currently offering investors and other property buyers strong yields at bargain prices.
“Investors are exploring the regional centres for affordable opportunities and executives are also buying their dream retirement homes earlier,” he said.
Property values in the prestigious regional centres have fallen by up to 60 per cent in some instances, giving buyers the perfect opportunity to snag a property well below traditional market value.
Better yet, while values are down, Mr McGrath said yields were strong, with many regional centres recording average yields of 4.5 to 5.5 per cent.
All in all, Mr McGrath said Bowral, located in NSW, offered the best value for money, followed closely by Bulli, Byron Bay, Charlestown, East Port Macquarie, Wollongong and Wamberal.
In Queensland, Island of Capri and Tugun were identified as being the best regional suburbs, while the Australian Capital Territory’s suburb of Kingston also managed to make the list.