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A new report from Suburbtrends identified the top affordable locations across Australia possessing robust desirability and investment potential.
Suburbtrends founder Kent Lardner said the list would allow investors to identify affordable markets that can align with their goals.
“With the possibility of interest rates reaching a turning point, many investors who have been adopting a cautious wait-and-see approach in the past 12 months might find their interest reignited,” he said.
Here are the top 20 suburbs under $500,000 with the strongest capital growth potential and high desirability:
|
Suburb |
Median Price |
Projected Growth |
Score |
|
Merbein, Vic |
285,000 |
515,000 |
86.92 |
|
Merbein South, Vic |
285,000 |
515,000 |
83.03 |
|
Birdwoodton, Vic |
285,000 |
515,000 |
81.83 |
|
North Wagga Wagga, NSW |
485,000 |
700,000 |
78.04 |
|
Churchill, Qld |
475,000 |
610,000 |
76.02 |
|
Estella, NSW |
485,000 |
700,000 |
75.09 |
|
Raceview, Qld |
475,000 |
590,000 |
73.74 |
|
Boorooma, NSW |
485,000 |
700,000 |
73.02 |
|
Swan Hill, Vic |
337,000 |
540,000 |
71.68 |
|
Brassall, Qld |
480,000 |
600,000 |
71.41 |
|
Yamanto, Qld |
475,000 |
610,000 |
71.16 |
|
Compton, SA |
277,000 |
450,000 |
70.59 |
|
Suttontown, SA |
277,000 |
450,000 |
70.57 |
|
Mount Austin, NSW |
417,500 |
637,500 |
68.68 |
|
Tolland, NSW |
417,500 |
637,000 |
68.55 |
|
Ebbw Vale, Qld |
400,000 |
510,000 |
67.67 |
|
Anketell, WA |
413,500 |
507,000 |
66.51 |
|
Ob Flat, SA |
271,000 |
540,000 |
66.25 |
|
Worrolong, SA |
271,000 |
540,000 |
65.53 |
|
Lake Albert, NSW |
494,000 |
703,000 |
64.88 |
The suburbs above are identified based on a wide range of factors such as long-term and short-term trends, supply and demand indicators, rental market dynamics, and affordability measures.
To be able to come up with the score, Suburbtrends used the following variables: five-year and quarterly price changes, inventory trend and forecast, days on market, vacancy, yield, rent trend, and affordability.
The top-scoring suburbs present opportunities for both buyers and investors to benefit from positive price trends, strong demand, and favourable affordability measures.
“Buyers can find desirable properties within their budget, while investors can identify areas with the potential for long-term growth and rental income,” Mr Lardner said.
However, it is crucial to note that the desirability of the suburbs included in the list is only based on market performance. Factors such as amenities, transportation infrastructure, crime rates, and school quality were not considered for the study but could heavily influence the desirability of a suburb.
“The provided score serves as an excellent starting point, enabling investors to conduct research on suburbs they may not have previously considered. By leveraging this information, investors can make informed decisions and potentially uncover new investment opportunities,” Mr Lardner said.
Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.
| Lender | Home Loan | Interest Rate | Comparison Rate* | Monthly Repayment | Repayment type | Rate Type | Offset | Redraw | Ongoing Fees | Upfront Fees | LVR | Lump Sum Repayment | Additional Repayments | Split Loan Option | Tags | Features | Link | Compare |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
6.04% p.a. | 6.06% p.a. | $2,408 | Principal & Interest | Variable | $0 | $530 | 70% | Featured Online ExclusiveUp to $4k cashback |
| |||||||||
5.99% p.a. | 5.90% p.a. | $2,396 | Principal & Interest | Variable | $0 | $0 | 80% |
| ||||||||||
6.14% p.a. | 6.16% p.a. | $2,434 | Principal & Interest | Variable | $0 | $250 | 60% |
| ||||||||||
5.95% p.a. | 5.95% p.a. | $2,385 | Principal & Interest | Variable | $0 | $0 | 90% | |||||||||||
5.94% p.a. | 5.95% p.a. | $2,383 | Principal & Interest | Variable | $0 | $0 | 90% |
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