Semaphore Park: the property price growth ugly duckling in Money Magazine's 2017 predictions

Semaphore Park: the property price growth ugly duckling in Money Magazine's 2017 predictions
Semaphore Park: the property price growth ugly duckling in Money Magazine's 2017 predictions

Of the 50 suburbs tipped for strong house price growth in 2017 by Money Magazine experts Chris Gray, Margaret Lomas and Jeremy Shepherd, only one of them went backwards in price.

It was the South Australia suburb Semaphore Park in the west of Adelaide. The selection from Jeremy Shepherd went backwards 4.5 percent.

A Fourth Avenue home (above) sold for $455,000, well below the median suburb house price of $485,000.

The most disappointing price growth selections came from South Australia and Queensland.

Margaret Lomas chose Forest Lake in Queensland, which was the first Master Planned Community within the municipality of Brisbane.

The median price growth in the suburb increased by just 0.13 percent.

Back to South Australia and another two of Jeremy Shepherd's selections had the second and third worst price growth.

He selected Findon, another suburb west of Adelaide, and Edwardstown, southwest of Adelaide, to have a strong 2017.

Findon's median price growth was pegged at 1.04 percent, while Edwardstown's wasn't much stronger at 1.6 percent.

Shepherd also backed MacGregor in the Belconnen district outside of Canberra. That had a median house price growth of just 1.94 percent.

Chris Gray's least impressive pick was Coogee, which surprisingly despite the Sydney boom saw its median house prices climb just 4.1 percent.

It should be noted however Gray only made predictions in New South Wales and didn't have to select the slightly more difficult to predict suburbs across other states.

Click here to see which expert tipped the strongest growth performer of 2017.

 

Highlights

Worst pick - Semaphore Park - SA - -4.5 percent

Second work pick - Forest Lake - QLD - 0.13 percent

Third worst pick - Findon - SA - 1.04 percent

 

 

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

Tags: 
House Price Growth

Comments

Be the first one to comment on this article
What would you like to say about this project?