Which suburbs have booming property prices?
A boom weekend of auction results has experts predicting a property market turnaround after almost two years of falling prices. More than 60 per cent of the 1500 auctions held over the weekend in Australia produced a sale, the strongest result in 12 months, reported CoreLogic.
However, the bigger picture is not so bright. The Australian Bureau of Statistics reports that prices fell in all Australian capital cities over the first three months of 2019 by an average of three per cent. Sydney and Melbourne median prices have fallen by around 10 per cent in the last year.
The best outlook for property prices over the next three years are in the suburbs of:
Karabar (Queanbeyan, NSW),
Bilambil Heights (Gold Coast, Qld),
Underwood (Brisbane, QLD),
Gelliston Bay (Hobart, TAS),
Miners Rest (Ballarat, VIC),
St Marys (Adelaide, SA)
Austins Ferry (Hobart, TAS)
Birkenhead (Adelaide, SA)
Largs North (Adelaide, SA)
Kuluin (Sunshine Coast, Qld)
Largs (Hunter Valley, NSW)
Croydon Park (Adelaide, SA)
Old Beach (Hobart, TAS)
Tenambit (Newcastle, NSW)
The median house price in Charnwood is now $439,000 and is expected to grow by $123,000 in the next three years, property researcher Jeremy Sheppard from Sell or Hold told The New Daily today.
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