Australia Markets closed

The 10 hotspots hand-picked for property price growth in 2020

Noosa River. Image: Getty
Noosa River. Image: Getty

Australia is weeks away from a new year and decade, while the property market continues its roaring recovery, etching its fastest growth since 2003 in November.

And according to real estate forecasters, Hotspotting, there are several spots where capital gains will almost definitely continue.

“Any market that’s got a university and a major hospital clustered is going to be a centre of great demand for real estate,” property researcher Terry Ryder told Canstar.

In its National Top 10 Best Buys 2019 report, it highlighted these 10 regions as the ones to watch, based on capital growth expectations:

  • Sunshine Coast, Queensland

Hotspotting describes the Sunshine Coast as the “most compelling growth story”.

“Economies reliant on tourism traditionally fail to deliver sustainable growth, as evidenced by the Gold Coast which is a notoriously poor performer on capital growth,” Ryder said.

“But the Sunshine Coast has diversified and strengthened and is now arguably the nation’s most compelling growth story.

“It has a $17.7 billion economy, making it one of the largest regional economies in Australia.”

The Sunshine Coast includes suburbs like Caloundra West and Nambour where median prices remain below $500,000, while new infrastructure projects like the University Hospital are also expected to boost prices.

  • Marion, South Australia

The region south-west of the Adelaide CBD has seen prices rise by as much as 8 per cent in Edwardstown, with its proximity to major infrastructure – and you can still pick up a bargain for under $400,000.

  • Bendigo, Victoria

This Victorian hotspot has the recent completion of the Regional Rail Link, La Trobe University expansion plans and GovHub construction due to bring in around 1,000 jobs to thank for its hotspot status. Most suburbs here are around $370,000.

  • Moreton Bay Region, Queensland

In addition to famous seafood, Moreton Bay also has the New University of the Sunshine Coast and the Moreton Bay Rail Link boosting values. There, you can snap up a buy for less than $500,000 in most suburbs.

  • Stirling, Western Australia

The region 6km from the Perth CBD has suburbs like Westminster with prices in the $300,000s, while the potential construction of a light rail system could boost values.

  • Darebin, Victoria

Suburbs like Northcote in Melbourne have seen unit prices rise by as much as 9 per cent in the last year to $570,000, while plans to include Northcote, Preston and Reservoir in the Victorian government’s Northern Major Activity Centre infrastructure project should see prices grow even more.

  • Port Adelaide Enfield, South Australia

The ship-building region has seen price increases of up to 9 per cent in suburbs like Broadview and Gilles Plains, with prices now at $565,000 and $400,000 respectively. And the government’s $89 billion ship-building plan will boost this further.

  • Mackay, Queensland

Up in Mackay, suburbs like Mt Pleasant have seen incredible growth of up to 21 per cent in the last year as the previously mining-driven economy recovers.

  • Joondalup, Western Australia

This WA region is home to several affordable suburbs like Currambine ($480,000) and Heathridge ($430,000).

And the redevelopment of the city centre should see prices continue to grow.

  • Latrobe Valley, Victoria

In this regional Victoria area, some suburbs are seeing strong price growth, like Newborough which saw prices rise 7 per cent to $245,000.

Make your money work with Yahoo Finance’s daily newsletter. Sign up here and stay on top of the latest money, news and tech news.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting