potential for investment.
Meridian Australia and Property Performance Advisor (PPA), consultancy groups who provide advice on creating residential property portfolios, recently reported that the next booming property hotspots nationwide are likely to be the suburbs of Brisbane and Adelaide where period homes with large blocks of land and proximity to transports links offer tremendous investment opportunities.
Glenn Piper, Meridian’s Director, pointed out that a major factor behind the rise of hotspots outside Victoria and New South Wales was that:
“Rapid price increases in Sydney and Melbourne are so far ahead of growth in average incomes that it could take years until houses are again affordable to first time buyers and families wanting to upgrade.”
Despite this trend, PPA believes that in Victoria, Croydon is a suburb that still offers a strong investment opportunity due to its location only 27kms from Melbourne CBD, its excellent transport links and extensive block sizes. Property agents in the suburb are likely to utilise brochure printing and Flyers to take advantage of this opportunity.
Other Melbourne suburbs including Footscray and Frankston which are currently experiencing gentrification and widespread improvements to transports links, were also identified as suburbs in Victoria which could be attractive to investors over the next twelve months.
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