New research has uncovered five localities where investors are tipped to make $120,000 in just three years, taking into consideration both selling and buying costs.
The analysis by the Select Residential Property Research Group analysed suburbs with median house prices between $400,000 and $600,000 located in significant urban areas.
The analysis of locations with the best prospects of a price upswing over the next three years identified suburbs within strengthening major property markets.
Head of research Jeremy Sheppard said the top five places (where investors could be better off by more than $120,000 in three years) were located in four cities: Canberra, the Gold Coast, Brisbane and Hobart.
Head of research Jeremy Sheppard said the Canberra-Queanbeyan region faired the best.
“The Canberra-Queanbeyan region has taken out the first and second places for forecast price growth, partly due to affordable house prices close to our nation’s capital,” he said.
“Both Charnwood and Karabar are near Canberra, which means housing is in strong demand from public servants.”
Mr Sheppard said number three and four on the list were both locations in southeast Queensland, where housing affordability, location and access to major employment nodes were some of their main attributes.
“Bilambil Heights is in the Tweed Heads region of the Gold Coast. Not only does the suburb boast water views, Surfers Paradise is also only about 30 minutes’ drive away,” he said.
Mr Sheppard said Underwood in the Logan region of Brisbane came in at number four, while Geilston Bay in Hobart had the potential to put nearly $90,000 extra into an investor’s back pocket.
“Hobart has three of the top 15 results, which shows that there is growth still remaining in the Apple Isle capital,” Mr Sheppard.
“If its name didn’t give it away, the appeal of Geilston Bay is partly due to its desirable location on the Derwent River while also only being seven kilometres from Hobart.”