ACT tops Australian property hot spots
January 20, 2012
Canberra tops the list
Canberra is no longer just a hotspot for politicians, it’s now topped a list of the best places to invest in property.
TEN17 January 2012
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Canberra: Not just popular with politicians. Source: Supplied
Perhaps it’s properties like the PM’s residence, The Lodge, that makes Canberra popular with investors. Picture: AAP Source: AAP
PROPERTY investors should think of Canberra as one of the best spots in the country, a new survey finds.
Canberra tops a list of 50 hot spots identified by an expert panel for magazine Smart Property Investment.
They said the city’s high incomes and a scarcity of land would underpin strong growth in property prices.
The panel also highlighted 18 suburbs and towns in NSW, including Muswellbrook, Bathurst, Penrith, Blacktown, Neutral Bay and Goulburn – making that state dominant.
Resource towns in Queensland and Western Australia were strongly represented, particularly the boom regions of Surat and Bowen Basin and the Pilbara.
There were also six areas in South Australia and four in Victoria.
The magazine’s editor, Phillip Tarrant, said the investment hot-spots were chosen based on their population growth, demand for housing, income level, employment, vacancy rates, previous capital growth and current gross rental yields.
He said while capital growth on investment properties was no longer guaranteed, it was still achievable if buyers did their homework.
“If you pick your suburbs and areas carefully, capital cities can offer a good, safe investment,” he said yesterday.
“However, for investors chasing more lucrative returns, strong, diverse regional centres are proving a very popular choice with the experts.”
