The calendar year is quickly coming to a close and buying activity will continue to push along in the lead up to Christmas.
Buyers looking to make purchases in sought after suburbs are still facing stiff competition, particularly in Melbourne and rising in Brisbane. For those looking to purchase in the next six months or so, either prior to Christmas or in the first quarter of 2016, we have examined the six suburbs on the move we recommend buyers across Melbourne, Brisbane, and Adelaide.
The inner west suburb in Melbourne sits north of sought after Williamstown. Occupying desired beachfront land, Williamstown is akin to eastern beachside suburbs such as Brighton, with a median price of a $1.1 million. Newport offers just as much with access to shopping, nearby schools, central train station, only 7kms from the CBD, and still only a few kilometres to the beach front.
The suburb has a healthy median house price of $850,000, and median unit price of $700,000 according to RIEV data.
There are industrial pockets of the suburb, with the Newport Power Station and fuel depots on the Yarra in the north east. However, buyers will find desirable pockets between Mason Street and Market Street, just a 10 minute walk to the train station and easy access to roads to the beach. Newport is also benefiting from the ripple effect of being between Yarraville to the north and Williamstown. As buyers who may be priced out of these popular suburbs, Newport offers a superb opportunity with comparable location, amenities, and lifestyle at a more affordable price point.
9kms from the Melbourne CBD and bordering trendy Thornbury to the south, Preston is an expansive suburb at 11 square kilometres. Offering the Northland Shopping Centre, abundant parks, ample public transport and selection of schools, the suburb is well serviced with regard to amenities.
Median prices in the suburb are strong, at $815,000 for houses, and $478,750 for units. In comparison, median prices in Thornbury are $95,000 higher.
What is interesting when looking at these prices is that Preston median house prices have moved up $95,000 since December of 2014. Thornbury median house prices have moved up approximately $40,000 in the same period, indicating that buyers are well on their way to looking into Preston as per RIEV stats.
Buyers looking for particularly sought after areas could seek property in the pocket between the south of Bell Street and Dundas Street. Still well serviced and that much closer to the CBD, this area is worth a look for prospective purchasers.
A smaller suburb, Firle is benefitting from buyer interest in neighbouring suburbs Tranmere and the larger Magill. According to Core Logic RP Data, Firle has a median house price of $545,750 and a capital growth rate of 5.46%. Across Glynburn Road into Tranmere, media house prices are reaching $615,000.
The suburb has generally gone under the radar of buyers in recent times, but is well serviced by public transport, easy access into the CBD, and proximity to schools. With more affordable entry into the market and nestled between desired postcodes, buyers can add Firle to their list.
Right on the beach front, framed by River Torrens to the north, and directly accessible to the CBD via Sir Donald Bradman Drive (a trip under 10kms), West Beach offers a lot.
Although it is adjacent to the Adelaide Airport, West Beach boasts a desirable central pocket north of West Beach Road. Abundant parklands are a key drawcard to the suburb, as well as public transport and the centrally located West Beach Primary School which cater well to families.
With a median house price of $660,000 according to Core Logic RP Data, West Beach offers an excellent opportunity to buyers looking in locations such as Henley Beach and Henley Beach South, which has a median house price of $767,000.
West Beach still offers all that Henley Beach and alike does, and ease of access to the amenities of Henley Beach, while offering generally cheaper options, seeing more activity in the suburb would be expected in the next 6 to 12 months.
Situated approximately 8kms south west of the CBD, Corinda is bordered to the west by the Brisbane River.
As a consequence of the Brisbane 2011 floods, Corinda was deemed “undesirable”, however the massive recent growth in popularity of neighbouring suburbs Graceville & Sherwood has had a ripple effect that has benefited Corinda. According to RP Data the suburb enjoys an average annual capital growth of 6.49% in houses with a median of $700,000.
The CBD is easily accessible from the Corinda railway station, which also connects residents with entertainment and educational facilities such, including the Indooroopilly Shopping Centre and the University of Queensland.
An ever attractive feature of Corinda is that it has still retained a large portion of older style timber homes on larger blocks. For young families Corinda also satisfies most standards of education with two private schools, St Aidan’s Anglican Girls School (Prep to Year 12) and St Joseph’s Catholic School (Prep to Year 7), while Corinda State Primary School and Corinda State High School are towards the south.
The opening of Brisbane’s latest tunnel, Legacy Way, has allowed the western suburbs greater access to the north and vice versa, and Aspley is certainly reaping the benefits. Legacy Way connects residents to the airport, DFO shopping, Royal Brisbane Hospital, shopping, and the RNA showgrounds. Aspley has proven especially fruitful for investors with an annual growth rate of 5% and a recent rise in median prices to $520,000, according to Core Logic RP Data. It is one of the last remaining suburbs close to the CBD that you can snap up a landed house for under the averages.
Situated 13kms north of the CBD it enjoys great improvements in transport infrastructure cutting the commute to city by 7-10 minutes. Aspley is also home to a Hypermarket, Home maker centre, and what is probably one of the last remaining tourist caravan parks so close to the city edge.
Families are well catered for with primary and secondary schools, and the vicinity to Sunshine Coast arterial roads means weekend getawayers can be on the Caloundra beaches within an hour.