1. Newcastle, New South Wales
Once, the industrial heartland of the East Coast, Newcastle is a gentrifying city and one of the best growth regions of Australia. Many of the older weatherboard & period homes in the once industrial suburbs of the west are being redeveloped and bought by young professionals. This has seen an increase in the weekly rental prices by $100 or more a week over the last 12 months in suburbs such as Cooks Hill, Mayfield & Tighes Hill. This adds to a huge shortage in rental listings being below 1% for almost the entire 12 month period.
The economy itself is strongly supported by mining, but also fundamentally by Education & Healthcare. It is a phenomenal lifestyle city, and this is reflected by Bar Beach; a particularly nice seaside suburb is set to be the first suburb in regional Australia to have a median price of $3 million.
2. Central Coast, New South Wales
With only the Hawkesbury separating Sydney and 'The Coast', many of the more affluent Sydneysiders have moved to the beautiful lifestyle seaside towns rather than the outer exurbs of Sydney.
With great transport options from Woy Woy & Gosford, the last 12 months has seen suburbs such as Avoca Beach, Umina Beach, Davistown & many others reach phenomenal figures of greater than 20% capital growth.
3. Greater Geelong, Victoria
Once surrounded by acres of farmland and a tiny City Centre, Geelong has in recent years become much more than a baby brother to Melbourne. Surrounded by phenomenal locations including Bells Beach, Torquay & Lorne to the west, working from home or from the office only a few days a week has made Geelong a very attractive option for many of those who are now calling it home.
Across the bay from its counterpart the Mornington Peninsula, Geelong is a cheaper alternative and has the charm of the Great Ocean Road at its doorstep. This is reflected in many suburbs recording vacancy rates of less than 1% in the last 12 months, with many recording rates as low as 0.2-0.3%.
4. Bendigo, Victoria
A quaint colder & smaller version of Melbourne, Bendigo has seen incredible gentrification in recent years with many fundamentally strong White-Collar businesses relocating their offices away from Collins Square, to the much more affordable Bendigo.
This has, in the past 12 months created a massive shortage in stock for many of those wanting to call Bendigo home and seen capital growth of over 15% in towns such as Eaglehawk & Strathdale. On top of this, rental listings are down to sometimes below 10 per suburb, with vacancy rates lower than 1%.
5. Shellharbour Region, New South Wales
South of 'The Gong', Shellharbour was once considered a derelict, polluted & secondary industrial location to Newcastle, when the Steelworks was running at full capacity. In recent years, with much of the steelworks closing, it has become a thriving seaside location. Many of the affluent Southern Sydneysiders, particularly from the Sutherland Shire & Eastern Suburbs now call this location home. This has seen the new development of Shell Cove, and the Marina, Transport lines linking trains to Sydney & Buses to the closeby Wollongong CBD. Many of the oceanfront houses along Shellharbour and Shell Cove are fetching prices of above $4 million, which is only strengthening the markets performance in the present and in the near future.
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Incredible read!