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There are 10 suburbs across Australia where home owners will be grinning with the thought their property value could increase drastically during the next few years.
Research from Select Residential Property (SRP) has pinpointed the top 10 areas that are forecast to have a median house price growth of up to 30 per cent over the next three years.
The top locations could see capital growth of nearly $400,000 over that period.
The reason for this growth is due to the areas having sound market fundamentals, SRP director of research Jeremy Sheppard said.
“The analysis uses 17 market variables to help us determine the locations with the best chance of superior price growth over the next three years,” he said.
The top locations are in the Australian Capital Territory, New South Wales, Queensland, South Australia and Victoria.
“The research highlights that each major region has suburbs with price potential regardless of what the market cycle is doing at the time,” Mr Sheppard said.
“These suburbs all have a number of desirable features; however, one of the main reasons why house prices are forecast to grow is an imbalance of demand to supply.”
The suburbs predicted to return the most capital return are:
- Balaclava, Vic
- Narraweena, NSW
- Helensburgh, NSW
- Fullarton, SA
- St Albans Park, Vic
- Charnwood, ACT
- Waratah, NSW
- Currimundi, Qld
- Grange, Qld
- Colonel Light Gardens, SA
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