This news item has potential boom suburbs for Australia. Good news for Port Noarlunga!
The reality is that the stretch from Hallett Cove to Seaford...taking in Christies Beach, Port Noarlunga, Port Noarlunga South and Seaford are all going to boom.
IT'S what every home buyer wants to know: What are Australia's next boom suburbs? We ask the property professor.
Property lecturer and author Peter Koulizos answers your real estate questions.
Answer: Suburbs with boom potential need to satisfy the following criteria:
Potential for better-than-average capital growth over the next five years
Have a median house/unit price that is affordable for most first-home buyers
The potential for capital growth is based on their proximity to:
Amenities such as train stations, shopping centres and highly sought after schools
Undervalued suburbs are cheap now relative to neighbouring suburbs and but have the potential to become the next “blue chip” suburbs due to a number of factors:
Gentrification - the area might be a little run-down now but is currently experiencing a rebirth. This occurs when, for example, old, neglected homes, often period-style, close to the CBD or sea, attract new owners and are renovated. Or when local government spends money to improve the area. Sydney suburbs that have already been gentrified include Balmain and Paddington. Marrickville and Enmore are excellent examples of suburbs just beginning the gentrification process.
Public money is being spent in the area - major infrastructure upgrades - such as a new train station or bus interchange or freeway. Private money is being spent in the area - renovations and/or extensions of shopping centres and construction of new homes are two clear examples of private sector money expenditure that can accelerate future capital growth in an area.
Top picks of the suburbs with boom potential:
Sydney: Ashfield, Sans Souci, Leichhardt
Adelaide: Torrensville, Pt. Noarlunga, Thebarton
Melbourne: Coburg, Flemington, Maidstone
Perth: Victoria Park, Yanchep, Scarborough
Canberra: Braddon, Narrabundah, Dixon
Darwin: Rapid Creek, Millner, Parap
Brisbane: Margate, Woody Point, Annerley
Hobart: Glebe, South Hobart, North Hobart
Peter Koulizos is a property lecturer and author – www.thepropertyprofessor.com.au
Please address questions to Ask The Property Professor, and email them to Peter.Koulizos@unisa.edu.au