Property expert reveals top investment suburbs for winter 2024
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Despite concerns about interest rates and their impact on the property market, property investment expert James Fitzgerald of Custodian has identified several “winter-winning” suburbs for investors in the coming months.
Fitzgerald emphasizes that potential investors shouldn’t be deterred by current market conditions, stating, “You don’t have to be on the Rich List to invest in property. You just need to have your finances in order and do your research.”
He suggests that winter can offer better opportunities for buyers due to less competition in the market. Fitzgerald recommends focusing on areas with growing populations, proximity to major employers, and good infrastructure.
Key investment location picks by region include:
Southeast Queensland:
- Caboolture West precinct (15% annual population growth)
- Ripley, South Ripley, and Deebing Heights (10% annual growth)
Perth, Western Australia:
- Eglinton and Yanchep (population expected to triple in 10 years)
- Bertram and Wellard (population to nearly double in 10 years)
Adelaide, South Australia:
- Munno Para, Angle Vale, Gawler, and Virginia (50% population increase by 2031)
- Mount Barker (growth rate 50% higher than national average)
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Sydney, New South Wales:
- Austral, Leppington, and West Hoxton (8-12% annual population growth)
Melbourne, Victoria:
- Melton and Wyndham Vale
- Tarneit, Fraser Rise, Plumpton and Rockbank (20-25% annual growth over 10 years)
Fitzgerald advises investors to look for properties with land, as “land is the only part that grows in value over time, which means that the more land you have the more capital growth you are going to experience.”
He also notes that while staying under the median house price is ideal, paying slightly more shouldn’t be a deal-breaker, especially in areas undergoing regeneration.
Fitzgerald concludes by emphasizing the importance of considering long-term population growth and infrastructure development when selecting investment locations.