These suburbs have stellar growth potential

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Investors who are targeting major regions in Australia should consider looking at suburbs with consistent price potential despite the market cycle, according to a new report by Select Residential Property Research Group [SRP].

The study listed 10 suburbs across major cities and regions where prices could hit as much as 30% growth in the next three years.

"These suburbs all have a number of desirable features; however, one of the main reasons why house prices are forecast to grow is an imbalance of demand to supply," SRP director of research Jeremy Sheppard said.

Topping the list is Melbourne's Balaclava. Currently, the suburb has a hefty median price of $1.07m, and over the three-year period, it could grow by 30% to $1.4m.

"The thing is, even if prices end up only climbing by half as much as predicted, such is the nature of forecasting, it's still a great return on investment over a short period," Sheppard said.

Sydney's Narraweena came second, but it has the highest potential capital growth due to its median price of $1.3m. In the next three years, houses in this suburb could have a price tag of $1.7m.

Below is the list of suburbs and their three-year forecast growth:


Major City/Region

Suburb

Median Price

3-Year Growth (%)

3-Year Growth ($)

Melbourne

Balaclava

$ 1.07m

30.3

$324,711

Sydney

Narraweena

$ 1.3m

29.7

$386,387

Wollongong

Helensburgh

$ 747,000

28.6

$213,446

Adelaide

Fullarton

$ 910,000

28

$255,214

Geelong

St Albans Park

$ 396,000

27.5

$109,050

Canberra - Queanbeyan

Charnwood

$ 449,000

27.4

$122,949

Newcastle - Maitland

Waratah

$ 494,000

27.4

$135,368

Sunshine Coast

Currimundi

$ 537,000

25.8

$138,514

Brisbane

Grange

$ 884,000

25.8

$228,020

Adelaide

Colonel Light Gardens

$ 732,000

26.5

$193,696

Source: Select Residential Property Research Group

Top Suburbs : willoughby east , sth toowoomba , flemington , padbury , torrensville

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