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Ahh, the property market – one of Australia’s favourite topics of conversation. If you’re hoping to buy your first house or invest in another unit this year, now's the time to start looking at these emerging Aussie hotspots.
From new transport lines and housing developments to multi-purpose urban renewal projects, a fresh wave of infrastructure is primed to reshape several suburbs across Australia over the next 12 months. So, where should you be looking? These are the 12 neighbourhoods the property experts at realestate.com.au recommend keeping an eye on.
Sitting roughly two hours north of Sydney, Broadmeadow in Newcastle, is set to see the biggest 12-month house price growth of 36.1 per cent. While the suburb's current median house price sits at around $1.2 million, that figure could tip over the $1.65 million mark thanks to a massive rezoning initiative that will make room for more than 3,200 new homes. Plus, with plans for Broadmeadow to eventually become the primary station on the planned Sydney-to-Newcastle high-speed rail link, this small suburb is set to become even hotter property in the coming years.
Down south, Bridgewater in Greater Hobart is also tipped for huge property price growth of 19.1 per cent, thanks to the construction of a new bridge across the River Derwent. As Tasmania’s largest-ever infrastructure project, the four-lane crossing will allow quicker travel to Hobart’s northern suburbs – an area already seeing increased demand from first-home buyers and investors. With the local median house price currently sitting at an incredibly accessible $500,000, you’ll want to move fast.
For prospective apartment investors, Brisbane’s high-density, riverside suburb of Hamilton is set for the largest 12-month unit price growth at 15.8 per cent. The former industrial waterfront here is undergoing a massive transformation, evolving into a multi-purpose precinct that houses apartments, offices and retail alongside riverfront parks and public spaces. Talk about everything at your doorstep!
You can explore more hot property suburbs below.
The Australian suburbs set for big property growth over the next 12 months
- Broadmeadow, NSW – 36.1% (houses)
- Bridgewater, TAS – 19.1% (houses)
- St Marys, NSW – 18.8% (houses), 2.2% (units)
- Alkimos, WA – 17.9% (houses)
- Hamilton, QLD – 15.8% (units)
- Woolloongabba, QLD – 13.2% (houses), 11.5% (units)
- Sunshine, VIC – 12% (houses), 14.8% (units)
- Port Kembla, NSW – 7.5% (houses)
- North Melbourne, VIC – 7.2% (units)
- Rockingham, WA – 6% (houses)
- Osborne, SA – 6% (houses)
- Bankstown, NSW – 5.9% (houses), 7.2% (units)