Real Estate

5 Developing Suburbs in Australia to Invest in Property

Are you looking for a developing suburb in Australia? Do you want to make this investment that will fetch you a sufficient return in the future? Well, if you are thinking in this line and are looking for some of your potent options, you’ve indeed stumbled upon the right space!

Here we will talk about how you need to identify a developing suburb and some potential options you can choose! So, let’s check out some of the top picks first!

Table of Contents

1) Eynesbury, Victoria

If you are confused with the Eynesbury present in north London, then let us tell you there is one in Australia as well. It is a suburb in Victoria, around 44 kilometers moving west from Melbourne Central Business District.

The suburb is recently developing with great schools, colleges, hospitals and more. So, this development can turn the values of such properties to exceed and go very high.

People are currently looking at the Eynesbury Estate for the perfect location and the great developing property. So, if you are thinking of investing in a suburb, then Eynesbury, Victoria, can be a great option.

2) Noosa Head, Queensland

This property is just part of the Sunshine Coast hotspot’s cluster. Several interstate migrants and retirees are searching for cheap properties and are choosing this suburb to meet their requirements. The place has a great lifestyle with fantastic weather.

With around $1.3 million, you will get a decent three-bedroom house. And if you are thinking of this place to rent it out, you might expect around $780 rent for each week. Also, the good news is that the compound growth of this place in 5 years is +12.5%.

3) Bendigo, Victoria

Another place in Victoria that has made its way into our list of developing suburbs in Australia is Bendigo! The median house price is around $550,000. Bendigo is at an advantage because of its connectivity to major cities. Moreover, the amenities of this place are great. They have excellent medical services, tourism, forestry, mining, and agriculture.

Also, renting out a property in this area with two bedrooms can fetch you around $320 a week. So, the compound growth of Bendigo in 5 years is +8.5%.

4) Blacktown, New South Wales

A potential property that you can quickly get under $1 million in Sydney is Blacktown. They have a great range of properties of two and three bedrooms. Moreover, being so close to Sydney, you can very well be sure of having all the necessary amenities you are looking for.

The rent per week can range from $410 a week. And the compound growth in each year is around +3.1%. So, choose this place if you are searching for a suburb in Australia!

5) Blackburn, Victoria

If you move towards the east of Melbourne, you will visit the leafy suburb of Blackburn. The place is famous for its great schools and parks. Several buyers are looking for properties for investment purposes surely choose places in Blackburn.

The price of the houses can be around $15,20,000, which can fetch you a rent of about $480 a week. Also, the compound growth of Blackburn is great as it is a whopping +4.8%.

How must you identify a great suburb with high growth?

Well, we all want to choose a suburb that can fetch a good return in the future. And that’s why people search for the developing ones. But must you choose and understand that they are developing properties? Well, for that, go through our list, and we’re sure you’ll know what to look for.

1) Rising values

We all want to invest only if we see something prospective. Similarly, only if you notice rising values, then can you invest. So, make sure you see the rising values of the property and calculate the yearly growth. With the idea of how many years you wish to invest, you can easily calculate how much return you will get.

Also, Check – How To Sell Overseas Property In 15 Simple Steps

2) Rising rentals

Another vital point that you must consider is this! When you see the rent of the properties increasing, you can be sure that this is an excellent investment for your future return. So, a yearly yield of rent will also give you a fair chance to assess if the property is worth investing in or not.

3) Amenities

Schools, colleges, hospitals, agriculture, banks, mining, forestry determine the growth and development of a place. When you see business slowly crawling into an area, you can ensure that the place is developing. Moreover, if you stay in a suburb, you want some amenities for your convenience.