All Topics / Help Needed! / Future Growth Areas?? HELP!

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  • Profile photo of peternaomi1peternaomi1
    Member
    @peternaomi1
    Join Date: 2006
    Post Count: 6

    Hi all

    i noticed today in the Sydney morning herald a section called, "The Spring Property Guide".  which listed many suburbs with their growth or lack of growth and predicted growth.  The problem I'm having in finding properties is finding areas which will have a good growth.  The info that was in the paper today was mostly info I needed 12 months ago.  Can someone please help me with giving me some of the keys needed in finding growth areas especially in regional areas.

    Thank you.

    Profile photo of L.A AussieL.A Aussie
    Member
    @l.a-aussie
    Join Date: 2006
    Post Count: 1,488

    Newspapers are usually late to the party. You need to dig deeper and harder yourself, trawl the r/e websites, drive around and look for clues.

    However, Residex have good reports on what you are looking for.
    You can buy a report for predictions for a specific area and it will include many suburbs.
    Then you need to do some in-depth research on that area yourself to qualify the precictions; talk to agents, do searches on the towns's website (if they have one) for their activities and development, ring the local council or check their website etc.

    Another good indicator for future growth is to look for 'over-flow' suburbs. These are affordable suburbs very near, or next to, suburbs that have become expensive and un-affordable, so people move to the next closest affordable suburb that will give them access to the same amenities and proximity to work, good transport, shopping etc.

    For example, when L.A had their boom recently and the prices became ridiculous (still are), many of the outer-lying suburbs started to boom because they were cheaper. Then while the L.A  market slumped, this is still continuing. I'm talking suburbs with 1.5 hour commute!

    Sydney and Melb wil no doubt go the same way as the inner-city areas get more expensive to rent or buy. Look for suburbs that are developing, have good access to transport/roads into town, good shops, schools, parks etc, but are still affordable for the average Joe. Frankston, 45 mins south of Melb is one such example; affordable, good amenities, transport, a new freeway link being constructed etc.

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