Woolloongabba offers the best opportunity for property investors looking to invest in the post COVID-19 Pandemic.
ME Bank and Ethos Urban released a report that lists 20 of Australia’s most desirable places to invest. Queensland was ranked #1 at Woolloongabba and Burleigh Heads.
Chris McNeil, an advisor at ME Bank, said that new infrastructure can make a big difference in creating opportunities in suburban areas.
He mentioned that Woolloongabba is home to two train stations. He stated that the Cross City Rail Project will run under the suburb and will improve connectivity. It will also transform the way people use the area.
“This will only get more as Brisbane prepares for 2032 Olympics.”
Burleigh Heads Light Rail, in addition to “turbocharging” the Gold Coast value.
Mermaid Beach and Fairfield were also included on the list.
ME Bank and Ethos Urban used both quantitative and qualitative factors to determine the most promising areas to invest in. These factors included transportation infrastructure, rental yields, and population growth.
These criteria were used in determining which suburbs made it onto the list.
New South Wales suburbs dominate the list
Nineteen of the 20 spots were in New South Wales suburbs. Five Dock took the third spot.
McNeill stated that infrastructure projects like the Sydney Metro South West Project, Crow’s Nest and the CBD will increase connectivity.
“Five Dock, Rozelle, Parramatta, Pyrmont, and Concord will significantly benefit from the high-speed, high-frequency metro line connecting them to the Sydney CBD,” he said.
“This adds to their appeal for investors following recent growth in rental prices, median house prices and change in white-collar workers.”
Victoria’s infrastructure upgrade
Thanks to the inclusion North Melbourne underground, North Melbourne was fourth. It will connect Melbourne Central, Melbourne University and Flinders Street. The structure plan also includes the Arden street precinct structural plan.
Mr McNeill said the government’s investment in removing level crossings is creating change around Victoria.
“For instance, upgrades to safety and amenities in Preston, have significantly improved the investment prospects for the north Melbourne suburb,” he said.
“The Melbourne Metro upgrade will also see the already booming South Melbourne be the perfect spot for apartment investing.”
Western Australia’s diverse areas
Three suburbs in Western Australia were included on the list. McNeill explained that the areas are diverse.
For instance, Ellenbrook’s wineries and masterplan estate was able to take advantage of the Ellenbrook Rail Extension, connecting it to more than five suburbs.
Meanwhile, Yanchep’s beaches and coastal township is also set to benefit from the Yanchep Rail Extension, making the journey to Joondalup just a 30-minute commute.
Claremont, which is situated in Perth’s leafy western suburbs, is also set to be a hotspot for apartment buyers due to the Claremont station upgrade.