Some suburban areas of Australia will thrive and see a raft of price increases in their property this year, despite the nation as a whole expecting to mature and start to slow down.
After a very strong 2013 for price growth, many are now expecting to see Australia's prices grow at a slightly slower pace in 2014, but according to Residex, some inner ring suburbs will be remaining strong.
Bellevue Hill and Rose Bay in Sydney, Malvern in Melbourne and Bulimba in Brisbane are all expected to exceed the country as a whole throughout the next year, and will see an average of ten per cent or higher price rises for at least the next five years, it said.
John Edwards of Residex said that the levels of growth in these specific areas will come at a time when the wider market is not moving as fast as last year.
He said that Sydney and Melbourne will still be strong but start to slow down throughout 2014, while the rest of the nation is likely to follow suit in 2015.
“Property investors will need to be cautious about which suburbs they invest in — particularly in inner city areas, which will deliver a very mixed range of returns," the expert added.
Posted by Ravin Chatlani
After a very strong 2013 for price growth, many are now expecting to see Australia's prices grow at a slightly slower pace in 2014, but according to Residex, some inner ring suburbs will be remaining strong.
Bellevue Hill and Rose Bay in Sydney, Malvern in Melbourne and Bulimba in Brisbane are all expected to exceed the country as a whole throughout the next year, and will see an average of ten per cent or higher price rises for at least the next five years, it said.
John Edwards of Residex said that the levels of growth in these specific areas will come at a time when the wider market is not moving as fast as last year.
He said that Sydney and Melbourne will still be strong but start to slow down throughout 2014, while the rest of the nation is likely to follow suit in 2015.
“Property investors will need to be cautious about which suburbs they invest in — particularly in inner city areas, which will deliver a very mixed range of returns," the expert added.
Posted by Ravin Chatlani
