The Best Old Suburbs to Build New In
Hotspotting.com.au founder Terry Ryder has named his latest top suburbs for investing property in.
Revealing his current Top 10 Perth and WA Hotspots, My Ryder said Kwinana, Rockingham and Armadale were among the few areas to resist the “overall pattern of market activity tapering off” after the boom.
“The City of Armadale has six suburbs classified in The Pride Predictor Index as ‘Rising Steadily’ while Rockingham City has five growth markets” Mr Ryder stated.
Another stand out area was the Swan City, with it having eight ‘Rising Steadily’ markets and four ‘Consistency’ markets.
To identify these hot spot suburbs, Terry Ryder had core categories, such as transport infrastructure, jobs nodes and boom areas to compare them against.
The City of Armadale, Belmont, Butler and Rockingham had potential as old suburbs that may be deemed unattractive to some.
“Some suburbs were once shunned as downmarket but now are regarded as trendy – ugly ducklings can transform into real estate swans” the report said.
“Whenever affordability is a key issue, ugly ducklings with potential to change will do well.”
Gavin Hegney, the director from Hegney Property Group said to benefit from an investment, real estate punters should aim to find a property that has unique quality which will give it capital growth potential. “If you’ve seen 12 properties that are very similar in the same area, then it’s probably not the right choice”, Hegney said.
“Where it’s a busy road that’s set to become a cul-de-sac, or a new infrastructure that is about to be put into place making it within walking distance of a train station, you want to find a property with a unique selling point”.
Mr Hegney said each of Terry Ryder’s hot spot suburbs had selling points, but tipped Butler as his favourite in an area rich of prospects. Mr Hegney also said the key was to find a home that had a “scarcity component”.
“You don’t pay a real premium for a unique selling point in a buyers market. But you will get a real premium for a unique selling point in a sellers’ market”.
Available areas to build in that are listed in Ryder’s top hot spots:
- Butler: Transport infrastructure growing, urban renewal.
- Busselton-Dunsborough: Great lifestyle features, sea change and educational-medical growing.
- Mandurah: Lifestyle features, sea change and transport infrastructure advancing.
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