Invest
10 small Aussie towns with big property price growth
COVID-19 has altered the dynamics of real estate, putting the spotlight on regional towns as more people look to swap the city rush with the laidback regional lifestyle.
10 small Aussie towns with big property price growth
COVID-19 has altered the dynamics of real estate, putting the spotlight on regional towns as more people look to swap the city rush with the laidback regional lifestyle.
The rising interest in Aussie regions has been touted as one of the biggest positives to come out of the pandemic, as migrating city folk drive job creation and economic growth in towns less favoured a year ago.
According to REA Group chief economist Nerida Conisbee, interest in regional towns is not only being witnessed in the bigger, more established areas, but it’s rapidly rising in the smaller towns with fewer than 1,000 residents.
This is due to an increasing demand for bigger spaces as people are forced to spend more time at home.
But with overseas travel still off the cards for the foreseeable future, and frequently closed state borders, people are also increasingly cashing out on a second home.
Looking at the data, Victoria’s small towns have proven the most popular, with this state boasting four of the top 10 fastest-growing small towns. Queensland and NSW with two small towns each.
Among Australia’s fastest-growing small towns over the last 12 months to December 2020 were:
1. Cape Paterson, Vic | Median: $625,000, Growth: 17.9 per cent
2. Charlemont, Vic | Median, $533,500, Growth: 14.7per cent
3. Callala Beach, NSW | Median: $730,500, Growth: 14.1 per cent
4. Rosebery, Tas | Median: $96,500, Growth: 12.2 per cent
5. Dundee Beach, NT | Median: $230,000, Growth: 12.2 per cent
6. Dundowran, Qld | Median: $455,000, Growth: 11.5 per cent
7. Taroomball, Qld | Median: $460,000, Growth: 11.0 per cent
8. Ventnor, Vic | Median: $585,000, Growth: 10.4 per cent
9. Renwick, NSW | Median: $815,500, Growth: 10.2 per cent
10. Venus Bay, Vic | Median: $360,000, Growth: 9.3 per cent
Moving on to 2021, Ms Conisbee said the regional house price growth will continue, with the beachside suburbs – such as Cape Paterson, Ventnor and Venus Bay – garnering the strongest demand. The mining sector is also tipped to become “one of the major determinants of regional price growth”, particularly in Rosebury, where the median price has risen 12.2 per cent over the past 12 months.
Property
Poor wage growth could impede home price growth
With wages growth at record-low levels, a property expert has warned that continuing low and flat wages could impede home price growth. ...Read more
Property
Negotiating a lower interest rate on your property loan
The banks are customer hungry, meaning they’re willing to offer increased discounts to new customers and apply these discounts to existing customer loans, a mortgage broker has said. ...Read more
Property
How to determine the real value of a property
With various factors affecting market value and pricing, can one truly predict what buyers will pay for properties? ...Read more
Property
House prices tipped to soar 20% in 2 years: Westpac
House prices in Sydney are tipped to grow by 20 per cent over the next two years, and by 18 per cent in Melbourne, as a leading economist predicts strong economic growth following the rollout of the C...Read more
Property
5 tips to unearth the next property hotspots
A property expert has bullishly claimed that property hotspots are a “complete myth” that almost guarantees buyers will pay top dollar, and has instead urged buyers to seek out the “warm spots...Read more
Property
Top 10 inland rural towns to invest in
While it’s become apparent that regional housing markets have stolen the spotlight, having outpaced their capital city counterparts in 2020, new research has shown that inland rural towns have also ...Read more
Property
Where to buy under $300k
A positively geared property with high capital growth potential does not necessarily need to carry an astronomical price tag, an expert has said, with new market entrants able to land a home for under...Read more
Property
‘Great Australian dream’ of owning a home lives on amid COVID
Most Australian investors and home buyers were largely undeterred by the events of 2020, remaining eager to push through with their investment plans, a new survey has found. ...Read more
Property
Poor wage growth could impede home price growth
With wages growth at record-low levels, a property expert has warned that continuing low and flat wages could impede home price growth. ...Read more
Property
Negotiating a lower interest rate on your property loan
The banks are customer hungry, meaning they’re willing to offer increased discounts to new customers and apply these discounts to existing customer loans, a mortgage broker has said. ...Read more
Property
How to determine the real value of a property
With various factors affecting market value and pricing, can one truly predict what buyers will pay for properties? ...Read more
Property
House prices tipped to soar 20% in 2 years: Westpac
House prices in Sydney are tipped to grow by 20 per cent over the next two years, and by 18 per cent in Melbourne, as a leading economist predicts strong economic growth following the rollout of the C...Read more
Property
5 tips to unearth the next property hotspots
A property expert has bullishly claimed that property hotspots are a “complete myth” that almost guarantees buyers will pay top dollar, and has instead urged buyers to seek out the “warm spots...Read more
Property
Top 10 inland rural towns to invest in
While it’s become apparent that regional housing markets have stolen the spotlight, having outpaced their capital city counterparts in 2020, new research has shown that inland rural towns have also ...Read more
Property
Where to buy under $300k
A positively geared property with high capital growth potential does not necessarily need to carry an astronomical price tag, an expert has said, with new market entrants able to land a home for under...Read more
Property
‘Great Australian dream’ of owning a home lives on amid COVID
Most Australian investors and home buyers were largely undeterred by the events of 2020, remaining eager to push through with their investment plans, a new survey has found. ...Read more
More articles
Website Notifications
Get notifications in real-time for staying up to date with content that matters to you.
