Some regional property markets are beating metropolitan markets, according to a presentation by Colliers International research director Tim lawless yesterday.
The top 10 spots are:
- Hervey Bay
- Ballina and Lennox
- The Bass Coast
- East Gippsland
- Coffs Harbour
- Wollongong and Shoalhaven
- Tweed Coast
But he warned that some of these locations are risky investments because what makes them hot can change, reports the Australian Financial Review. For instance, if the area is dependent on one industry, such as coal, a decline in the industry would quickly be reflected in house prices.
Empty nesters flocking to the seaside have driven some of the growth.
You can help us (and help yourself)
Small and medium businesses and startups have never needed credible, independent journalism and information more than now.
That’s our job at SmartCompany: to keep you informed with the news, interviews and analysis you need to manage your way through this unprecedented crisis.
Now, there’s a way you can help us keep doing this: by becoming a SmartCompany supporter.
Even a small contribution will help us to keep doing the journalism that keeps Australia’s entrepreneurs informed.