{"id":5339,"date":"2023-10-26T09:27:44","date_gmt":"2023-10-25T23:27:44","guid":{"rendered":"https:\/\/financialplus.com.au\/?p=5339"},"modified":"2023-10-26T09:27:44","modified_gmt":"2023-10-25T23:27:44","slug":"revealed-the-four-cities-tipped-to-be-future-property-hotspots","status":"publish","type":"post","link":"https:\/\/financialplus.com.au\/revealed-the-four-cities-tipped-to-be-future-property-hotspots\/","title":{"rendered":"Revealed: the four cities tipped to be future property hotspots"},"content":{"rendered":"

\"\"No matter whether you\u2019re in the market for a home or an investment property, it makes financial sense to buy in an area where values are tipped to rise. But where to look? Today we\u2019ll unveil the Australian cities where population growth is tipped to turbo-charge the property market.<\/strong><\/p>\n

One of the biggest drivers of property price rises right now is \u2026 drumroll \u2026 population growth,\u00a0according to PropTrack<\/a>.<\/p>\n

Let\u2019s take a look at the cities more people are expected to call home.<\/p>\n

Is the regional renaissance over?<\/h3>\n

During the height of the COVID-19 pandemic, Australians were flocking to regional areas.<\/p>\n

The population of\u00a0regional Australia grew by 70,900 people<\/a>\u00a0during 2020-21 \u2013 the first time in over 40 years that the regions outpaced capital cities.<\/p>\n

However, the COVID-inspired rush to the regions is reportedly over.<\/p>\n

Despite the new work-from-home trend, the reopening of borders is seeing a return to urban living.<\/p>\n

According to\u00a0property exchange platform PEXA<\/a>, this will see two-thirds of Australia\u2019s population growth concentrated in four cities over the next two decades.<\/p>\n

Which cities are set to benefit?<\/h3>\n

PEXA is predicting population growth of 7.4 million between now and 2041.<\/p>\n

That\u2019s a lot of people looking for a place to live.<\/p>\n

It\u2019s not just about net migration to Australia, either.<\/p>\n

Regional dwellers, especially younger people, are expected to head to urban areas, attracted by the availability of study and work opportunities.<\/p>\n

The upshot is that two million new homes will be required over the next 18 years, and 67% of population growth will be concentrated in Sydney, Melbourne, Brisbane and Perth.<\/p>\n

The stats are astonishing.<\/p>\n

PEXA says the four hotspot cities require vast numbers of new homes:<\/p>\n

\u2013 723,000 in Melbourne (that\u2019s 40,000 new homes per year, or 772 per week);
\n\u2013 582,000 in Sydney;
\n\u2013 381,000 in Brisbane; and
\n\u2013 334,000 in Perth.<\/p>\n

Adelaide meanwhile is predicted to need at least another\u00a0141,000 dwellings<\/a>\u00a0between now and 2046.<\/p>\n

What does this mean for property buyers?<\/h3>\n

For starters, increased demand on this scale is expected to continue to push up property prices unless supply can increase at a similar pace.<\/p>\n

Despite higher interest rates, already we have seen values rise in all of these four cities over the past 12 months.<\/p>\n

CoreLogic says\u00a0property prices have soared<\/a>\u00a07.3% in Sydney over the past year, 5.0% in Brisbane, a whopping 8.8% in Perth, and a comparatively modest 1.5% in Melbourne (and 5.0% in Adelaide).<\/p>\n

So if you own property in these cities, you could be sitting on more equity than you realise \u2013 with potentially more to come.<\/p>\n

Or, if you\u2019re considering buying, particularly as an investor, it could be worth looking at one of these hotspot cities \u2013 even if you don\u2019t live there yourself.<\/p>\n

Are you home loan ready?<\/h3>\n

No matter where you plan to buy, understanding your borrowing power is a key starting point.<\/p>\n

Give us a call today to find out how much you can borrow and what grants and schemes you might be eligible for to help fund your next purchase.<\/p>\n

Disclaimer:<\/strong>\u00a0The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.<\/p>\n","protected":false},"excerpt":{"rendered":"

No matter whether you\u2019re in the market for a home or an investment property, it makes financial sense to buy in an area where values are tipped to rise. But where to look? Today we\u2019ll unveil the Australian cities where population growth is tipped to turbo-charge the property market. One of the biggest drivers of […]<\/p>\n","protected":false},"author":23,"featured_media":5340,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[110],"tags":[],"class_list":{"0":"post-5339","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-home-loans","8":"entry"},"yoast_head":"\nRevealed: the four cities tipped to be future property hotspots · FinancialPlus Mortgage Broker Gold Coast<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/finance-matters.info\/2023\/10\/25\/revealed-the-four-cities-tipped-to-be-future-property-hotspots\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Revealed: the four cities tipped to be future property hotspots · FinancialPlus Mortgage Broker Gold Coast\" \/>\n<meta property=\"og:description\" content=\"No matter whether you\u2019re in the market for a home or an investment property, it makes financial sense to buy in an area where values are tipped to rise. 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