The website Tthenewdaily reports that the realestate research firm Select Resident Property lists 20 remote resort towns where house prices will rise by more than 20 percent over the next three years, with East Ballina, a small town near Byron Bay, topping the list.
Jeremy Sheppard, head of research at Select Resident Property, said the list is for holiday areas only," Investors take vacations around this time of year and they like a place when they`re on a summer vacation and are emotionally driven to want to buy a house without deciding on the data. This list can help them. 」
The strongest growing trend is East Ballina, a coastal city 30km south of Byron Bay with a population of more than 26,000.
With its beautiful beaches and oversupplied housing, home prices are forecast to rise by 27.8% over the next three years.
The research institute analyzed 17 different types of data, all of which were fed into the agency`s proprietary algorithms and then rated each city on a 100-point scale. The top 20 cities are mainly from new states and virginia, with only three in ta and queensland. The median house price ranges from A $297,000 in the Mildura central area of Murray River to A $980,000 in North Avocoa on the Central Coast.
Depending on whether a city has the potential to grow, Sheppard says, even the number of open checks can tell the city`s growth potential.
East Ballina (pictured: thehomepage)
While other investors are also concerned about demographics and employment statistics, Sheppard believes they could be misleading. "The growth in the number of jobs is important but not accurate at the city level," Sheppard said. Typically, employment data are used for larger regions. If employment drives realestate demand, it will be reflected in fast sales time and low discount. 」
Select Residential Property expects 20 remote resort towns where house prices will soar over the next three years:
1. New East Ballina State
2. New States of Bilambil Heights
3. Rosetta State
4. Kuluin Kun
5. New State of Kiama
6. North Avoca New State
7. Singleton Hieghts New State
8. West Wodonga Victoria
9. South Launceston Tower State
10. New Girards Hill State
11. New Cantontown States
12. North Boambie Valley New State
13. Dennington State
14. New State of Batemans Bay
15. Mildura State
16. New States of SoldierPoints
17. Junction Hill New State
18. Virginia Echuca
19. New State of Dubbo
20. New state of Grafton
