Top five suburbs for property investors in 2019: Margaret Lomas
Property market analyst Margaret Lomas, founder of Destiny Financial Solutions, has pinpointed five good options for investors.
“People are worried about buying property at the moment and you can’t blame them - the headlines are screaming doom and gloom,” she told Your Money Live.
“But even among that, there is some good news around property… and there are definitely places you should be buying.”
With those in mind, Lomas shared her top five suburb picks for 2019.
Whittington, VIC
This Victorian suburb located around 4km from Geelong’s town centre ticks all the right boxes, according to Lomas.
“The thing I like here is that it’s cheaper compared to East Geelong, which it borders,” she said.
Despite being mere steps apart, the median house price in East Geelong is $651,000 compared to Whittington’s $360,000, leaving plenty of potential for growth.
Lomas says the area is undergoing gentrification as state housing moves out to be replaced by owner-occupiers and family units.
And despite the property downturn, Whittington has recorded growth of 5.95 per cent in the last year.
An example was a three bedroom house at Whittington sold for 350,000 in Novermber 2018 (above).
Set on a 724sqm allotment, the renovated home at 4 Alouette Court comes with three bedrooms, kitchen/dining with floating bench space, large living area and separate laundry.
It's located just 10mins from Geelong CBD and within close proximity to several well regarded primary and secondary schools, Newcomb Centro, Aldi, and Bellarine Village Shopping Centres.
A current listing is a three bedroom brick house priced between $340,000 to $365,000 (pictured above).
Nestled on a 613sqm block in the heart of Whittington, the house at 6 Proton Court consists of three bedrooms, functional kitchen/meals area, good sized living room and covered entertaining area.
It's close to Newcomb Shopping Centres and within walking distance to local primary and secondary schools, community centre, public transport and 10 minutes to Geelong CBD.
Bibra Lake, WA
While property values are falling across Perth, a few standout suburbs are bucking the trend, including Bibra Lake.
While homes along the lake have an average price tag of $535,000, one street back from the water brings that figure down to just $390,000.
“It offers a fabulous lifestyle… it’s only about a 10 minute drive from the coast and there’s a freeway going right through Bibra Lake as well as a rail line,” she said.
That makes it about a 20 minute commute into Perth’s CBD.
A Bibra Lake four bedroom house in a quite street in Bibra Lake has been sold for $595,000 (pictured above).
Situated at 11 Lachlan Way, the family home comes with four bedrooms, renovated kitchen and laundry, games room, solid timber fllors throughout living areas, and oversized double lock up driving through garage.
It's only 500m from Bibra Lake and 400m from Bibra Lake Primary School.
A current offering is a four bedroom house located in the heart of Bibra Lake priced over $500,000 (pictured above).
Situated at 28 Marchant Drive, it comes with four bedrooms, open plan dining/living, modern kitchen, and separate front lounge/games room.
The outside features extra long carport with automatic door, powered workshop or studio, below-ground pool and covered alfresco.
One of the most positive features of the area is the soon to be opened USC Moreton Bay university campus, Australia’s newest university.
The project is expected to attract around $950 million into the local economy, plus 6,000 extra jobs, by 2036.
While the median price for a house is around $440,000, 2-3 bedroom units cost upward of just $300,000, perfect for the upcoming influx of students, said Lomas.
A recent sale was a four bedroom house at 3 St Marcel Ct traded for $425,500 (pictured above).
The family home features open plan living combined with dining, three bedrooms plus study or 4th bedroom, renovated kitchen, and large covered outdoor area.
It is located within close proximity to the central amenities in Petrie such as schools, shops, train and bus transport, and bush walking at the Mungarra reserve.
A two bedroom apartment situated on the edge of Sweeney Reserve has been listed for $325,000 (pictured above).
Located at 61/9 Houghton Street, Petrie, the apartment features open plan living, two bedrooms, two bathrooms, and kitchen with stone bench tops.
It's only 400m to shops and supermarkets, 900m to the Petrie station and just over 900m to the new Petrie University Complex.
Modbury, SA
You may have heard about the Australian Space Agency, soon to be based and further developed in South Australia.
Because the project is expected to attract mid-to-high income earners to Adelaide, Lomas predicts they’ll be looking at the city’s up and coming areas, such as Modbury.
Situated around 20 minutes from Adelaide’s city centre, the suburb is currently undergoing beautification, with new walkways and cycleways being added.
A recent sale at Modbury was a three bedroom house for $375,000 (pictured above).
Set on a 312sqm allotment, the house at 14 Trellios Street comprises of master bedroom, two other bedrooms, open plan living and dining room, separate laundry and garden shed.
It's located within walking distance to Clovercrest Village and only 13km to the Adelaide CBD.
A current offering at Modbury is a two bedroom unit priced between $260,000 to $280,000 (pictured above).
The unit at 39/129 Smart Road consists of a large lounge, kitchen and meals area, separate laundry and two bedrooms.
It's just a few minutes walk from the Modbury hospital and Medical Centre, Tea Tree Plaza Shopping Centre and the O'Bahn bus exchange for a bus ride into the city.
Port Adelaide, SA
In addition to the space agency, Adelaide is also getting a new submarine base and shipyard which is expected to bring in another 4,000 jobs to the area.
Sitting adjacent to the base and 20 minutes from Adelaide’s CBD, Port Adelaide’s median house price is just $350,000, despite nearby suburbs averaging above $600,000,
“When you add to that, that it is on the peninsula and right by the coast, I think it’s a no-brainer,” she says.
An example was a three bedroom 1880s old worker's cottage at Port Adelaide which was sold for $381,000 (pictured above).
Situated at 6 Aberdeen Street, it comes with three bedrooms, two large living areas, study, eat-in kitchen and secure carport parking.
A waterfront three bedroom house at Port Adelaide has been listed for sale with a price guide of $675,000 (pictured above).
Located at 26 Knapman Crescent, the harbourside home comes with three large bedrooms, lounge room with views of the harbour, modern kitchen, and large dining room.
It's within easy walking distance to ample shopping, schools and transport.
While markets will always fluctuate, there are a few basic rules that always hold true when it comes to purchasing property, according to Lomas:
- Affordable properties will always attract buyers
- A bigger plot of land is always the better option
- Look for family areas, as families will always fuel growth
- Find ‘ripple effect’ suburbs – less expensive suburbs that neighbour high-value areas