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Which suburbs are hot or not?

A recent article in news.com.au quoted hotspotting.com.au who have recently listed the '50 hottest suburbs' and the '66 most dangerous suburbs' talking about Sydney and Melbourne suburbs who are slumping in the property market.

See the article link below but the top notes are as follows:

  • Sydney and Melbourne have been top performers but according to this report there are only 17 still increasing.

  • Previously underperforming capital cities such as Adelaide and Perth are catching up; Adelaide has rising sales in 61 suburbs (approx 14%) while Perth has 45 (approx 12%).

  • Canberra is also starting to see momentum upwards.

  • Brisbane and Hobart are holding steady and Darwin appears stuck.

  • Regional NSW and Victoria are out performing Melbourne and Sydney as is regional QLD over Brisbane.

  • The growth suburbs in Victoria are:

  • Ardeer (median price $620,000)

  • Dallas (median price $440,000)

  • Doveton (median price $500,000)

  • Knoxfield (median price $865,000)

  • Kuranjang (mediam price $380,000)

  • Macleod (median price $935,000)

  • Manor Lakes (median price $505,000)

  • Melton South (median price $390,000)

  • Sorrento (median price $1.3 million)

  • Hobart, Brisbane, Melbourne and Sydney have a combined 42 suburbs rising while regional area in those same states have a total of 185.

So it looks like regional areas are hitting the property spot right now and certainly in regional Victoria this could be through the increased First Home Owners Grant and stamp duty concessions for first home buyers.

Have a great week.

Original article here