Where to Invest in Australia
So, you’ve decided to invest in an apartment in Australia. Now, where do you do it? Australia has been dabbed as one of the best countries to invest in property for many years now. It is also one of the world’s best places to live in. But which areas in Australia are considered hot spots? Here are the areas where experts believe it’s best to invest in a property or apartment:
One promising area in Australia that experts believe is a great place for property investment especially at this time is the capital city of Australia called Canberra. Canberra is known to be the largest inland city made up of over 400,000 in population. Experts say that Canberra is a great place to invest especially if you’re just wanting to break into the property market because first and foremost, apartment prices are low. Another advantage is, vacancy rates in the city are high so you can say that there is a need for more apartments and houses. With the increasing number of population in the city, the demand will certainly rise.
Located in Australia’s island state Tasmania, Hobart is another promising area where you invest in. Hobart is the capital city of Tasmania and is popular for low prices. The city is also said to generate the country’s highest returns when it comes to rental property. Sydney is known for expensive house prices most especially in desirable areas, but what makes Hobart a great alternative is the fact that the city’s most desirable areas are so much more affordable.
Many experts see Newcastle as one of the most promising targets in Australia if you’re looking into investing. Located in the New South Wales with a population of over 540,000 inhabitants, it is considered the country’s second most populated city. Right now, it is a regional city but it wouldn’t be for long because it is turning into something much bigger. The city’s infrastructure development which includes a light rail and a terminal for cruise ships will for sure change a lot in the city and play a part in property investment. From the coal industry, it has been slowly focusing more on tourism. Not only this, the university in the city has been growing too which could lead to a bigger demand when it comes to rental accommodation. These things are some of the factors that could have an effect should you go the investment route.
One of Melbourne’s states, Victoria is predicted to experience property boom this year, and because transportation in this area has improved tremendously, more experts find it a promising target for investment. Victoria’s suburb, Werribee along with Toorak are two that were predicted to record an above average growth in residential property.