02 Oct 53 markets with the best upside potential – Simon Pressley
After analysing the fundamentals of over 500 property markets in Australia, respected property market research firm Propertyology has found that 53 locations are on the cusp of stronger market conditions. These markets have the best upside potential over the short-to-medium-term.
Although the lag in property data means prices are yet to officially firm significantly in many of the locations, Propertyology Head of Research Simon Pressley says positive macro changes mean the signs of improvement are real.
- Hobart and Canberra continue to be the best of all capital cities and are likely to see their price growth rates accelerate.
- Perth, Brisbane and Adelaide are all at the right stage of the property cycle with balanced supply and housing affordability, but growth is unlikely to be spectacular without a meaningful lift in private-sector job growth.
- Sydney and Melbourne are now back to June 2015 and October 2016 levels respectively. Their futures are most likely a prolonged period of very little capital growth and low rental yields.
Mr Pressley also said that a plethora of regional locations hold the best prospects for capital growth with affordability only one part of the equation.
Tune in to the complete interview above for more information about regions outperforming and the best performers in the country over the past 12 months.