Market analyst Martin North recently released his list of Australian Capital City hotspots focusing on affordability and stagnant prices.
With some areas across the country looking to potentially break price records next year there’s never been a better time to find out what is looking hot for 2020. Market Analyst Martin North recently appeared on Seven’s morning show Sunrise. Whilst the show doesn’t often make it’s way on to the Australian Property Researcher watchlist, hearing the suggestions of Mr North who is currently the Principal of Digital Finance Analytics sparked our interest. Don’t worry though if you missed the show I won’t force you to go back and watch it. Let’s jump in to find out what his top picks for the next Australian Capital City hotspots.
Mr North gave us four hotspots for Sydney including:
- St Peters
He targeted suburbs that are still declining in price and were “relatively close to the city, a lot of interest and demand, good infrastructure and falling prices in these locations”.
For Melbourne Martin got straight to the point “North Melbourne, close in again, good infrastructure attracting young people”. His three picks for Melbourne were:
- North Melbourne
Croydon and Ringwood also named as the city’s top buying suburbs, thanks to location and minimal price rises.
Where are the Brisbane Australian Capital City hotspots?
We again got three picks for Brisbane. Redland Bay out to the city’s Coastal East and the Northern Suburbs of Chermside and Kurwongbah.
- Redland Bay
Mr North stated the key to his Brisbane selections was good infrastructure and rapidly dropping house prices in both Chermside and Redland Bay so his advice to prospective buyers, “act quickly.”
Adelaide produced three suburbs winning out thanks to their close proximity to the CBD. Marion, Thebarton and Richmond.
“ They’re mature suburbs around the centre of Adelaide” stated Mr North on the program as a reason for selection.
Once again infrastructure, well built homes and a large quantity of established properties and static prices were all cited as reasons from Mr North.
Hobart Australian Capital City Hotspots
Mr North pointed out that Hobart prices were still quite hot particularly in the North thanks to continued demand. Southern prices are also quite high thanks to good infrastructure, strong local community and plenty of houses. The Hobart picks were:
The Hobart hotspots did come with a warning. “I’d go for units as houses were holding their value.”
For Perth we had Stirling, Bedford and East Fremantle, having the highest upside for buyers willing to wait in a hard worn market.
- East Fremantle
Mr North warned “ the fact is the prices in Perth have come down quite a long way so eventually they will recover but it will take time”
Perth prices are currently the third-worst housing market in the nation, down another 8.3% in the previous financial year.
Darwin, the sometimes forgotten Northern City has had dwindling demand for homes with demand in the NT the lowest in the country. Darwin’s three suburbs are:
“ Prices in the north have dropped up to 30% so they are way off their high” North said.
His hot tip was to look for areas where there are again houses with good infrastructure but be careful as “there’s very little demand up there at the moment so I don’t think we’re going to see a massive recovery is in that area for a long time”.
Some very interesting picks from Martion North and definitely some new suburbs to consider compared to earlier in the year. We had a look at our favourite 5 suburbs for Brisbane earlier in the year if you’d like to add some more picks to Mr North’s list.