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Side HustleA recent report by PRD has unveiled the top ten affordable regional markets in Australia, offering property investors exciting opportunities. The list includes regions like Cairns, the Whitsundays, and the Southern Downs, where property prices are significantly lower compared to major cities like Brisbane.
According to Diaswati Mardiasmo, the chief economist at PRD, the national Home Loan Affordability Index hit a decade low in the last quarter of 2024, making it increasingly challenging for Australians to purchase homes in capital cities.
Cairns, located in Far North Queensland, has experienced a surge in demand driven by its tropical climate, economic stability, and lifestyle appeal. The region saw a significant increase in population and property prices, with houses yielding attractive returns for investors.
Southern Downs, an inland area in Queensland, has emerged as an affordable option for first-time buyers and investors. With steady growth in house and land prices, the region offers a resilient housing market and promising investment opportunities.
The Whitsundays, known for its picturesque beaches, has seen remarkable growth in property prices, especially in the unit market. The region’s strong performance is supported by increasing demand and upcoming development projects, making it an attractive prospect for investors.
Dubbo, situated in New South Wales, has witnessed a rise in property values and sales activity, making it a promising market for buyers. Despite escalating interest rates, Dubbo remains an affordable choice compared to Sydney, offering sustainable growth potential.
Port Macquarie-Hastings, another NSW region, has shown resilience in its property market, with substantial growth in land and house prices. The area’s economic stability and growth have contributed to its appeal for both lifestyle buyers and investors.
Shoalhaven in NSW boasts a thriving economy and scenic landscapes, attracting a growing population and driving property market growth. With soaring house prices and strong buyer demand, the region presents lucrative opportunities for investors.
Bendigo, a hidden gem in Victoria, has experienced steady growth in population and property values, offering diverse opportunities for buyers and investors. The city’s robust economy and increasing employment opportunities make it an attractive market for real estate investment.
Greater Shepparton, known as the food bowl of Australia, has seen a surge in property prices and sales activity, signaling a strong market outlook. With rising demand for houses and units, the region presents a favorable environment for both short-term buyers and long-term investors.
Wodonga, located on the Victorian side of the Murray River, has witnessed consistent growth in property prices over the past decade. The city’s strategic location and steady market performance make it a promising investment destination for buyers seeking value appreciation.
Burnie, nestled on Tasmania’s northwest coast, has emerged as a city with untapped potential, offering a blend of heritage and economic growth. With a growing population and resilient property market, Burnie presents opportunities for buyers looking for sustainable growth and investment prospects.
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