To determine the top 10 places to invest in 2022, ME Bank commissioned research from Ethos Urban. The coveted list assists all Australians looking to make the most of low interest rates and their increased savings during the COVID-19 pandemic.
Qualitative and quantitative data were used in the research. Criteria included:
- New transport infrastructure
- Average rental yields
- Recent population growth
- Median house prices
Australia’s top 10 best places to invest are:
Source: ME Bank, Ethos Urban
This year’s list confirmed that new transportation infrastructure is a major driver of investment potential. Woolloongabba, a Brisbane suburb, and Burleigh Heads, on the Gold Coast, were declared the top two areas. They outperformed a slew of NSW suburbs on the list. Brisbane is preparing its infrastructure for the 2032 Olympics, boosting property price growth and investment opportunities in the area.
Woolloongabba is served by two train stations and is scheduled to add the Cross River Rail Project in 2025, which will provide a line that runs directly beneath the suburb, improving connectivity. Woolloongabba is also close to all amenities and offers great value compared with neighbouring inner-city suburbs. It provides opportunities for all levels of investment – from apartments to larger, freestanding homes – in an up-and-coming suburb.
In terms of performance by states, New South Wales is a clear winner. Its Five Dock, Rozelle, Parramatta and Crows Nest suburbs all made the list. The Sydney Metro City & Southwest Project, scheduled to begin operating in 2024, will improve access to the CBD from places such as North Sydney and Crows Nest, strengthening the already thriving apartment market. Recent increases in rental prices and house prices further strengthen the attraction for investors.
Victoria claimed three slots in the top 10. The government’s investment in removing level crossings is causing a change in Victoria, with improvements to Preston’s safety and facilities greatly increasing the suburb’s investment possibilities. Also, the Melbourne Metro upgrade will make South Melbourne, which is already booming, an even better place to invest in apartments.
Due to Western Australia’s investment in the Ellenbrook Rail Extension, which connects more than five suburbs, Ellenbrook, with its wines and planned estate, made the list.
The fact that the ACT, South Australia, Tasmania, and the Northern Territory didn’t place any suburbs in the top 10 doesn’t mean they don’t have good investment opportunities. But New South Wales, Victoria, Queensland, and Western Australia are currently implementing the most substantial transportation projects, making them the investment hotspots.
Are you thinking of investing in one of these top regions? At Home Loan Experts, our mortgage brokers can help you throughout each step of your home-buying journey. Call us on 1300 889 743 or enquire online today.