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The Australian Property Market Atlas

The Australian Property Market Atlas
August 18, 2020 Propertyology Head of Research and REIA Hall of Famer, Simon Pressley

Australia is one of the most diverse counties in the world. In addition to the eight capital cities, there are 177 individual regional cities that have a population of between 10,000 and 600,000 people. At any given time, they all have varying volumes of housing supply and completely different economic conditions.

The official evidence confirms that, over the last 30-years, the property markets of every single one of these locations have produced booms, downturns, and flat periods.

Before one makes a decision as big as investing in real estate, it is in every property investor’s best interests to have an understanding of 100 percent of their options. That means removing the blinkers are thinking well beyond Sydney, Melbourne and Brisbane.

Who better to provide a summary of real estate opportunities in this incredibly diverse country than Australia’s most experienced property investment business? Since before the GFC, Propertyology’s multi-award-winning buyer’s agents have already helped everyday Aussies to purchase investment properties in sixteen (16) completely different cities across five different states.

Propertyology Head of Research, 3-time All Australian Buyer’s Agent of Year and REIA Hall of Fame Inductee Simon Pressley has prepared this Atlas of sorts that contains hundreds of great pieces of information about fifty (50) major Australian towns and cities.

Australian Capital Territory

1. Canberra

  • Canberra is Australia’s youngest capital city (109 years old). The two oldest are Sydney (232 years) and Hobart (227 years)
  • Canberra has a workforce of 230,000 people, of which 43 percent are government employees (federal and territory government)
  • Only 29 percent of all dwellings approved in Canberra over the 10-years ending 2019 were houses
  • In our ‘2020-21 Capital City Rankings’, Propertyology ranked Canberra number 1.

South East Queensland

2. Brisbane

  • Brisbane was established in 1825 (195 years ago) to look after convicts from Sydney
  • Brisbane is Australia’s third largest city, but is only ranked 22nd on the scale of highest median house prices
  • 52 percent of Queensland’s population reside elsewhere in the sunshine state
  • Capital growth: 110 percent over 4-years ending 2004
  • As at mid-2020, Brisbane is one of several cities across Australia that Propertyology’s buyer’s agents are actively buying real estate for property investor clients

3. Gold Coast

  • Gold Coast is a big beneficiary of internal migration, directly attributing 0.86 population growth in 2019 (compared to Brisbane City Council’s 0.1 percent and Sydney’s -0.48 percent)
  • With the state’s highest median house price, Gold Coast is home to some of Queensland’s most expensive real estate.

4. Toowoomba

  • Located 1.5 hours west of Brisbane, Toowoomba is Australia’s second biggest inland city (population 170,000)
  • Toowoomba meets our buyer’s agent’s definition of ‘mini capital city’. With quality retail facilities and numerous tertiary education options, Toowoomba services the broader Darling Downs agriculture precinct and the Surat Basin (energy production, gas and coal)
  • In 2015, the Wellcamp international airport opened, paving the way for transportation of overseas cargo plus domestic flights
  • Capital growth: 6 percent over the 5-years ending 2019 compared to 110 percent of the 5-years ending 2005
  • Median house price of $380,000

5. Sunshine Coast

6. Noosa

  • With a population of 55,000, Noosa is Australia’s 41st biggest town
  • Capital growth: 39 percent over the 5-years ending 2019 was Queensland’s highest
  • Noosa is a traditional 1-industry town (tourism). It’s a very popular holiday spot, especially for Melbournians

North & Central Queensland

7. Cairns

  • Cairns is a tropical paradise, Australia’s 16th largest city, 7th busiest airport and closest route to Asia
  • Offering an incredibly attractive lifestyle, Cairns (and the nearby Port Douglas) is one of Australia’s most popular holiday destinations
  • It has added a lot of diversity to its economy over the last 20-years
  • The Royal Australian Navy is the biggest employer, the health sector is Cairns’ largest workforce, while agriculture and construction are also strong
  • Cairns has a modern university that offers a variety of boutique degrees, including tropical diseases and medicine, marine science and advanced engineering
  • According to official ABS data, over the 2-years ending February 2020, Cairns had the biggest increase in job volumes in all of Australia (24 percent increase compared to 4.2 percent national average)
  • Major Projects: port expansion, $170 million convention centre redevelopment, construction of three luxury hotels, and $180 million highway upgrade
  • Very affordable real estate (median house price of $420,000), rental yield of 6 percent, 2019 capital growth was a solid 7 percent, it’s a market that will always be under the radar of our buyer’s agents

8. Townsville

  • The largest Australian city north of Brisbane, Townsville is home to Australia’s biggest Army base, biggest copper refinery and biggest zinc refinery
  • The James Cook university is one of the biggest in the country so is the Townsville port. Popular exports include beef, bananas, copper and coal
  • Capital growth: 150 percent over the 5-years ending 2007
  • Major Projects: $250 million NRL stadium, $700 million hydro-electricity project, $1 billion electricity line to the lucrative mineral province at Mount Isa

9. Mackay

  • A regional city of substance and economic significance, Mackay has a similar population size to Darwin
  • Mackay has quality infrastructure including a major airport, hospital, great sporting facilities, good retail options and beautiful beaches
  • Important industries are tourism (Whitsunday islands), sugar cane, thermal coal (electricity) and coking coal (steel making)
  • Major Project: A large urban renewal project to develop prime waterfront land which adjoins the city centre will breath significant energy into the community
  • In 2019, Mackay rents increased by 8 percent, more than 7 out of 8 capital cities

10. Rockhampton

  • Located 600 kilometres north of Brisbane, Rockhampton has a similar population size to Maitland
  • Rockhampton is Australia’s beef capital and a major service centre for inland coal mines
  • Major Projects: $1 billion development of a military training facility to support a 25-year contract with the Singapore government
  • Rockhampton real estate is very affordable (median house price is $270,000)

11. Gladstone

  • Home to one of the largest ports in the world, Gladstone is an industrial city with large manufacturing businesses that include a few major liquified natural gas plants, alumina refinery, cement refinery, oil refinery, biofuels plus a wide variety of export products including coal, beef and wood chips
  • Gladstone has a skilled and youthful demographic which enjoy outdoor activities, particularly fishing and boating
  • Major Projects: $1.6 billion hydrogen and ammonia energy plant, $350 million Rodds Bay solar farm, $400 million Aldoga solar farm, $200 million Alpha HPA alumina plant

12. Hervey Bay

  • Located on Queensland’s Fraser Coast, Hervey Bay has great year-round weather, nice beaches, resorts, national parks, golf courses and quality shopping centres
  • With a median household age of 48 years and affordable real estate (median house price $332,000), Hervey Bay is a very popular lifestyle location for retirees

13. Bundaberg

  • Located 4 hours north of Brisbane, agriculture (particularly vegetables) and manufacturing (including food and beverage) are key industries
  • The nearby Bargara Beach, turtle nesting, reef and fishing experiences, and the Bundaberg Rum visitor centre are popular tourism attractions.
  • Like most of Queensland, Bundaberg’s property market had a lean last decade with no change in its median house price, although it performed exceptionally well during the decade ending 2009.

Coastal New South Wales

14. Byron Bay

  • With a population of 33,000, Byron Bay is Australia’s 73rd largest city yet, as indisputable proof that population growth is far from the biggest influence on property markets, it has a higher median house price than every other Australian city
  • There’s a connection between the commencement of Byron Bay’s spectacular property market performance and investment in the Ballina-Byron airport in 2005. This improved access, combined with the internet enabling people to work remotely, resulted in some high-income earners relocating for Byron’s wonderful lifestyle

15. Coffs Harbour

  • Australia’s 30th biggest city is the home of the Big Banana and Australia’s biggest producer of blueberries
  • Coffs Harbour’s main economic drivers are construction, tourism and agriculture, while health has the biggest segment of the workforce (15 percent)
  • Capital growth: 43 percent over the 5years ending 2019 (better than 7 out of 8 capital cities)
  • Major Project: $1.8 billion Pacific Highway upgrade and a $116 million hospital upgrade

16. Port Macquarie

  • A popular location for retirees and with a population of 82,000 people, Port Macquarie has a median house price of $550,000
  • Great beaches and quality retail options support the tourism trade, while construction and forestry are also important industries

17. Maitland

  • Located only 30 kilometres inland from Newcastle, Maitland is one of the fastest growing locations in Australia. Its 26 percent population growth over the decade ending 2019 is double the national average and higher than every capital city
  • Real estate has performed strongly in Maitland with 38 percent capital growth and 12 percent rental growth over the 5-years ending 2019 (superior to most capital cities)

Using Propertyology’s expansive national research material, our thought-leading market analysis aims to identify locations Australia-wide for capital growth potential.

Propertyology’s multi-award-winning buyer’s agents draw upon this information to help everyday Aussies invest in strategically chosen locations all over Australia. You might enjoy this amazing case study!

18. Newcastle

  • Newcastle is a fantastic example of a city that has turned significant adversity into success
  • Australia’s 8th largest city has an eclectic mix of heavy industry, the world’s largest coal port, nice beaches, a major air force presence and an expanding university precinct
  • Propertyology’s buyer’s agents have been impressed by the consistency of Newcastle’s property market over the last decade
  • Housing affordability and a significant increase in density is increasingly becoming a concern

19. Sydney

  • Sydney’s very expensive real estate prices have always been the cause of much (national) controversy. Sydney’s property market has produced two big booms over the last three decades plus a couple of significant downturns, making it one of Australia’s more volatile property markets. There’s much to learn from the last 30-years of Sydney’s property market history
  • A legitimate world city, Australia’s oldest and most congested city has 2 million dwellings, of which only 57 percent are detached houses (compared to the national average of 73 percent)
  • Sydney’s first railway was opened in 1855. Today, more people catch a train to work in Sydney than any other Australian city, although this still only equates to 11 percent of workers. According to 2016 Census data, 60 percent use a car
  • According to official CoreLogic data, Sydney is ranked 5th out of the 8 Australian capital cities for highest average annual increase in median house price over the 20-years ending 2019 and equal last for rental yield
  • Here’s how Propertyology’s buyers agents helped a nice couple from Sydney to take advantage of property investment opportunities all over Australia

20. Wollongong

  • Wollongong is a beautiful coastal regional city south of Sydney with a lofty a median house that closely resembles Melbourne’s
  • Capital growth: an annual average of 6.1 percent over the 10-years ending 2019
  • Major Project: $600 million rail upgrades due to commence construction in late-2020

Inland New South Wales

21. Armidale

  • There are very few locations in Australia that Propertyology’s buyer’s agents have not been to and Armidale is right up there with the most beautiful. It’s easy to see why Armidale is a great regional city to raise a family
  • With a world-class university and some of the best public and private schools in the country, Armidale has a bigger segment of its workforce employed in the education sector than any city in Australia
  • Great sporting facilities support a healthy tourism trade from hosting year-round sporting carnivals while the beautiful national parks attract mountain biker and trekkers
  • Agriculture is another important sector for the local economy (wagyu beef, lamb, berries, tomatoes, and barley)
  • The city was Australia’s first mainland city to have the NBN installed, it has invested heavily in upgrading airport infrastructure and is currently developing an adjoining business park. In 2019, the APVMA federal government department relocated from Canberra to Armidale
  • Capital growth: 117 percent over the 6-years ending 2007
  • With a median house price of $346,000, Armidale is one of 111 Australian locations where real estate prices tripled over the last 20 years

22. Tamworth

  • The country music capital is Australia’s 38th largest city and produced a 10 percent increase in population over the last decade
  • With a median house price of $348,000, real estate in Tamworth is very affordable and rental yields are a very attractive 6 percent

23. Dubbo

  • Dubbo was founded in 1828, 7-years earlier than Melbourne, for the purpose of food production. The region is still one of Australia’s most productive livestock precincts (sheep and cattle grazing)
  • To the 130,000 people who reside in the Orana region, Dubbo is their capital city. With Dubbo’s biggest employment sectors being health, retail and education, it has an incredibly diverse economy, boasts an unemployment rate which is consistently below the national average and tight vacancy rates
  • Dubbo is very understated regional city that has great sporting facilities, it plays host to regular cultural events at its modern theatre and offers a unique South African safari experience at the award-winning Taronga zoo
  • With a median house price of $115,000 at the turn of the century to $350,000 by the beginning of 2020, Dubbo’s real estate prices have tripled over the last 20-years
  • Major Projects: Construction of a $1 billion regional rail maintenance hub commences in late 2020 while a $1 billion zirconia rare earths mine and processing plant has always been approved

24. Orange

  • With steady increases in the median house price in 19 out of the last 20 years, Orange is Propertyology’s pick as the most consistent property market in all of Australia over the last two decades
  • With beautiful landscapes, plentiful employment opportunities, good community values and high-quality amenities, Orange is an increasingly popular regional city for raising a family
  • Orange has a vibrant and extremely diverse economy. The popular wine and food region support a consistent local tourism trade, its modern hospitals is a national drawcard for those wanting to study a medical degree, agriculture is an important sector and the nearby Cardia gold mine is a key employer
  • Propertyology’s buyer’s agents have previously helped everyday Aussies to invest in Orange real estate
  • Capital growth: Orange was one of the best performed property markets in the country over the 5-years ending 2019 (37 percent capital growth plus 14 percent rent growth)
  • Projects: $600 million expansion of Australia’s second largest gold mine commenced H2 2020 with 900 new jobs anticipated from the development. Health care infrastructure projects are also in the pipeline.

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25. Bathurst

  • Located 200 kilometres north-west of Sydney and originally chosen for farming purposes, Bathurst was founded prior to 6 out of 8 capital cities
  • In October each year, this solid regional city is a hive of energy and the focus of the nation as it hosts the Bathurst 1000 touring car race
  • Median house price is an affordable $430,000 and rental supply is tight (sub 2 percent vacancy rate as at June 2020)

26. Wagga Wagga

  • Yet another example of what Propertyology’s buyer’s agents mean by a mini capital city, Wagga Wagga is the regional capital for the very productive Riverina agriculture province (citrus, rice, nuts, wine)
  • Prior to the formation of Canberra, it was a contender to become the Australian Capital in 1901
  • Wagga Wagga is the birth town of many Australian sporting greats, including Mark Taylor (cricket), Wayne Carey (AFL), Peter Stirling (NRL) and Tony Roche (tennis)
  • A major Army and RAAF base are staples of the local population.

27. Albury-Wodonga

  • Located along the Murray River and 3.5 hours south-west of Canberra, Albury (NSW) and Wodonga (VIC) share the state border
  • With a youthful demographic and great lifestyle of arts, culture, sport and food experiences, Albury-Wodonga is a well-established commercial hub which lacks absolutely nothing that capital cities offer
  • The diverse economy is a mix of defence force, health, manufacturing, education and retail
  • Capital growth: 142 percent over the 6-years ending 2005
  • Affordable real estate, a consistent and low risk property market, its biggest downturn over the last 30-years was a decline of $15,000 in 2011-12 (post GFC)

Tasmania

28. Hobart

  • With breathtaking scenery and a population size similar to Wollongong and Geelong, Hobart is Australia’s 2nd oldest city
  • An 8 percent average annual increase in median house price over the last 20-years ranks Hobart as Australia’s the best performed capital growth property market across the last two decades
  • Hobart is a city of creative minds, reflected in its university popularity, its wonderful arts and culture, some of the best food and wine experiences in the world, and the truly unique MONA tourist attraction
  • It also has some great science precincts and is the global head office for the Antarctic
  • More and more mainland Australians are relocating to Hobart. In 2019, it was Australia’s second biggest capital city beneficiary of internal migration
  • Dozens of everyday Aussie property investors took advantage of Propertyology’s thought-leading research by engaging the expertise of our buyer’s agents between 2014 and 2016, prior to the commencement of its now famous property boom, and haven’t looked back
  • Today’s fundamentals of Hobart’s property market remain rock solid

29. Burnie

  • The Port of Burnie is the most productive port in Tasmania, exporting forestry, minerals, agriculture products along with being a port of call for cruise ships from November to April
  • The regional capital of north-west Tasmania has a median house price of $255,000 and is arguably the best value-for-money real estate in Australia
  • Capital growth: 27 percent over the 5-years ending 2019 is better than 6 out of 8 capital
  • Major Projects: Australia’s biggest ever renewable energy project is one of several major projects planned for Burnie

30. Launceston

  • Launceston is the northern capital of Tasmania, it is Australia’s oldest regional city, the epicentre of the world’s best produce and a global-award-winning wine precinct. Throw in its beautiful architecture, great restaurants and cafes, beautiful scenery and one might appreciate why Launceston pulls at my heart strings. Propertyology’s buyer’s agents have helped dozens of people invest in Launceston, I have personally invested there, and my family have seriously considered living there
  • Capital growth: did you realise that Launceston’s property market has produced a higher 20-year return on investment than Sydney? Check this out
  • Major Projects: federal government backing is behind the construction of a $270 million modern university plus a $30 million defence research hub

Western Australia

31. Port Hedland

  • It’s the front door to the world’s largest iron ore province (the core ingredient for steel)
  • Port Hedland is famous for Australia’s biggest ever real estate increase (and decrease) in median house price. Over the 9-years ending 2013, the median house price increased from $180,000 to $900,000. It then declined from $900,000 to $210,000 over the 5-years ending 2018

32. Karratha

  • Karratha is the service centre for a major offshore gas province. Just like Port Hedland, Karratha is a traditional 1-industry town and should only be considered by very sophisticated property investors
  • In December 2010, the median house price of $800,000 was well above Sydney’s $570,000. Now it’s $340,000

33. Geraldton

  • Located 4-hours north of Perth, Geraldton is a solid regional port city that supports tourism, lobster farming and aquaculture, wheat, canola, sheep, iron ore, and gold
  • Capital growth: 167 percent growth over the 4-years ending 2007
  • Median house price of $280,000 and rental yield of 5.8 percent
  • Major Projects: $73 million hospital upgrade, BP Australia development of a hydrogen renewable energy plant, and development of the SKA (global) satellite project starts in 2021

34. Perth

  • From 2006 through to 2013, Perth was Australia’s fastest growing city. Over the last decade, there has been significant investment in Perth infrastructure, urban renewal projects, general amenity and housing density
  • Perth’s economy is highly dependent upon mining exports and has an unhealthy reliance on one customer (China purchased 52 percent of their exports), meaning Perth’s property market has above-average volatility potential
  • Capital growth: 106 percent over the 10-years ending 2010 (compared to Melbourne’s 67 percent and Sydney’s 92 percent

35. Albany

  • Located 5-hours south of Perth, Albany is Western Australia’s oldest city. It was established 194 years ago as a military garrison, 3-years before Perth was settled
  • Albany is a solid regional city with valuable port infrastructure and a diverse economy that consists of agriculture, forestry and tourism
  • Median house price of $385,000 and rental yield of 4.8 percent

36. Busselton

  • With a population of 40,000, Busselton is Western Australia’s second biggest city
  • Surrounded by the beautiful Margaret River wineries, great beaches and an iconic jetty, it is a popular holiday spot
  • Median house price of $515,000
  • Capital growth: average annual increase in median house price of 6.3 percent over the 20-years ending 2019
  • Major Project: airport expansion plans to open direct flights to Sydney and Melbourne

Coastal Victoria

37. Melbourne

  • Between 1901 and 1911, Melbourne had a brief stint where it displaced Sydney as the National capital
  • Today, Melbourne is a genuine global city, they are the masters of hosting major events and have a big presence in professional services, international students and manufacturing
  • Capital growth: with an average annual growth rate of 7.9 percent, Melbourne is Australia’s 2nd best-performed capital city property market (behind Hobart) over the last 20-years
  • While playing an important role in the provision of affordable housing for its growing population, Melbourne apartments have performed abysmally over the last decade

38. Geelong

  • A beneficiary of Melbourne’s urban sprawl, Geelong is Australia’s 11th largest city and has a similar population size to Wollongong & Hobart
  • 6 or 7 years ago, Geelong appeared to be facing an economic Armageddon with the closure of several major employers. But its positive response turned things around and became a driver of real estate prices
  • Capital growth: 50 percent increase over the 5-years ending 2019 was superior to 7 out of 8 capital cities
  • Major Projects: $318 million duplication of Barwon Heads Road

39. Warrnambool

  • Located 4-hours north of Perth, Geraldton is a solid regional port city that supports tourism, lobster farming and aquaculture, wheat, canola, sheep, iron ore, and gold
  • Capital growth: 167 percent growth over the 4-years ending 2007
  • Median house price of $280,000 and rental yield of 5.8 percent
  • Major Projects: $73 million hospital upgrade, BP Australia development of a hydrogen renewable energy plant, and development of the SKA (global) satellite project starts in 2021

Inland Victoria

40. Shepparton

  • With a population of 65,000 people, Shepparton is Australia’s 35th biggest city
  • Part of the wonderful Goulburn Valley agriculture region, it’s a major fruit growing and dairy producer. SPC Ardmona, established back in 1917, is a major employer and one of the world’s largest fruit canneries
  • Shepparton has very affordable housing ($290,000 median house price) and a low-risk, stable property market
  • Major Projects: expansion of its medical training hospital plus the development of a new shopping mall

41. Bendigo

  • Etched in the city’s stunning architecture is a reminder of Bendigo’s rich heritage, made famous by the 1850s Gold Rush era, Australia’s first stock exchange, and one of Australia’s oldest financial institutions, Bendigo Bank
  • The regional capital of central Victoria, Bendigo is a city of considerable substance. It boasts a newly developed major hospital, a big university, a strong culture of arts and food experiences, an outstanding lifestyle, very affordable real estate and passenger rail direct to Melbourne
  • Like many other wonderful Australian regional cities, Bendigo is a big beneficiary of internal migration (2019 = 0.9 percent increase)
  • Bendigo’s property market is a long-running consistent performer that produced a superior rate of capital growth than 5 out of 8 capital cities over the decade ending 2019

42. Wangaratta

  • Most people couldn’t even point to Wangaratta on a map, let alone appreciate that its median house price increased at a greater average annual rate over the last 20-years (6.6 percent) than Sydney’s median apartment price (5.4 percent)
  • Located 3-hours north-east of Melbourne, this beautiful rural town’s history is famous for the bushranger Ned Kelly, gold, IBM computer manufacturing, the Australian Textile Mills, Olympic champion cyclist Dean Woods and the annual Festival of Jazz
  • Right across this large and incredibly diverse country, there are dozens of towns like this that have a fascinating story, a nice lifestyle and a vibrant economy. For many more examples of locations where property investors have achieved a big investment bang from small bucks, just click here

43. Ballarat

  • With a population of 110,000 people, Ballarat is Australia’s 20th largest city
  • Only a 1.5-hour drive (or train ride) to and from Melbourne, Ballarat has great infrastructure, a quality lifestyle and very affordable real estate. A standard house in a central part of town costs approximately $400,000
  • Ballarat has an economic profile resembling a capital city. 15 percent of its workforce are employed in health care, 13 percent in retail, 11 percent manufacturing and 10 percent education
  • The 12.6 percent increase in total job volumes over the 2-years ending February 2020 is well above the 4.2 percent national average and higher than all 8 capital cities
  • Ballarat is a resilient property market which produced 41 percent capital growth and 20 percent rental growth over the 5-years ending 2019
  • This is a great example of the type of fundamentals that Propertyology’s buyer’s agents seek to uncover in locations all over Australia for everyday Aussie property investors. There are dozens of well-established regional cities just like Ballarat. The important thing for property investors is to always retain an open mind so that you’re giving yourself a chance to discover the ‘next Ballarat’

South Australia

44. Adelaide

  • Greater-Adelaide is home to 75 percent of South Australians. These 1.31 million people reside in 600,000 dwellings across 18 separate municipalities
  • Great beaches, the Barossa and Clare Valley wineries, museums and galleries, the River Torrens… everything is at your doorstep in the City of Churches
  • Adelaide doesn’t suffer from the high housing density that exists in Sydney, Melbourne and Canberra. A mere 8 percent of all existing residential real estate in Adelaide are apartments, 17 percent are townhouses and duplexes, while 75 percent are detached houses
  • The long-running sluggish economy of Adelaide mirrors the performance of its real estate prices. In recent years, the closure of Adelaide’s car manufacturing industry has been replaced by expansion of manufacturing of naval vessels and a soon-to-be-developed Australian Space Agency
  • Over the 2-years ending February 2020, Adelaide’s 1.9 percent increases in total jobs was below the 4.2 percent national average
  • Affordable housing, year-in-year-out consistent housing supply volumes, and a lower profile among investors underpin Adelaide’s low risk property market. The single biggest decline in median house prices over the last 25-years was only $10,000 in 2011

45. Mount Barker

  • Mount Barker is the primary service centre for the beautiful Adelaide Hills region
  • Home to 37,000 people, the 24.5 percent population increase over the decade ending 2019 is double the national average and a higher rate than 7 out of 8 capital cities
  • Real estate in Mount Barker is very affordable ($410,000 median house price). Capital growth over the last 5-years was a modest 7.4 percent
  • Major Projects: development of a regional sports hub, urban renewal of the popular Hahndorf historic village, public transport upgrades and winery expansions

46. Whyalla

  • Whyalla is South Australia’s third largest township (behind Adelaide and Mount Gambier). During the 1960s, there were plans for a projected 100,000 population although that subsequently did not materialise
  • In some ways, Whyalla is akin to a mini Newcastle. The seaside city located in the Spencer Gulf has an interesting history that has connections with BHP, steelmaking, and shipbuilding for the Australian navy during World War 2
  • In 2017, British billionaire Sanjeev Gupta purchased the troubled steelworks with big plans which now seem to have Whyalla’s checkered economic past set on a positive trajectory
  • Capital growth: Whyalla real estate prices increased by 177 percent over the 5-years ending 2007 while they also declined by 46 percent over the 5-years ending 2018
  • Major Projects: $600 million new GFG steelworks plant will double production, $500 million Cultana solar farm will vastly improve energy costs

47. Victor Harbour

  • One-hour south of Adelaide on the Fleurieu Peninsula, Victor Harbour is a popular holiday spot with an economy based on agriculture and fisheries
  • The most prosperous era for Victor Harbour real estate was the 4-years ending 2004 (111 percent capital growth). The local property market was completely flat from 2010 to 2018 and then gained momentum in 2019
  • Median house price is $400,000. Rents have been under pressure, increasing by 11 percent over the year ending April 2020. Rental yields are circa 5 percent

Northern Territory

48. Darwin

  • The Top End capital is the gateway to gas and to Asia, it plays an important role in our national security, and has some unique tourism experiences
  • With a problematic recent history, many have forgotten that Darwin’s property market was once the best in Australia for many years. From 2002 to 2012, real estate prices produced double-digit growth in 9 out of those 11 years and the median house price increased by a staggering 210 percent. Is Darwin now set to bounce?
  • Major Project: $150 million Charles Darwin CBD university upgrade

49. Alice Springs

  • Located in Australia’s red centre and with a population of 27,000 people, Alice Springs is NT’s second largest township
  • The regional city plays the role of major service centre for a massive region in central Australia. The city has a large government employee presence (17 percent of the workforce), while education, health, arts and recreation, and retail are other key employment sectors
  • Many will be surprised to learn that, over the 20-years ending 2019, the 6 percent average annual increase in Alice Spring’s median house price is very similar to Gold Coast’s although they have completely different landscapes, demographics and population sizes. Don’t judge a book by its cover!

50. Katherine

  • With a median house price of $290,000 and population of 10,600 people, Katherine is a 3-hour drive south of Darwin
  • Immersed by natural beauty and Australia’s wonderful indigenous heritage, it has a solid year-round tourism trade
  • A major RAAF air base is located just outside of Katherine. This infrastructure plays an important role for Australia’s national security and the federal government has investment plans for significant expansion. 25 percent of Katherine’s workforce is employed in Public Administration and Safety, a staple of local demand for real estate.

The purpose of this Australian Property Market ATLAS is to help property investors to appreciate that there are (literally) dozens of great locations across this incredibly diverse country and that they all offer fantastic potential for investors.

With so many choices, the odds of the one’s hometown having the best potential are not very high, and the evidence proves that a city with a higher profile and larger population mass has no bearing on market performance.

Hopefully this publication will give investors a small taste for the depth of Propertyology’s knowledge of Australian real estate.

The best time to invest in your future is ALWAYS as soon as you can afford to do so. The most important question is where in Australia has the best outlook.

If you are contemplating investing in Australian real estate, our multi-award-winning buyer’s agents would enjoy the opportunity to discuss your objectives, to elaborate on our service offering and fee structure, and to demonstrate the value in engaging expertise for such an important decision. Call Propertyology today on 1300 654070 or simply click here to email us.

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