The property market of 4 out of 8 capital cities, including 3 of Australia’s 4 biggest cities, has produced small declines over the last 12 months. Truth be known however, there are dozens of locations across the country where property markets are performing strongly. Yes, dozens!
This time last year, the property market in a particular regional city that Propertyology had just given the green light to invest in was flat. Through understanding economic drivers and property market cycles, Propertyology’s multiple award-winning buyer’s agents have witnessed firsthand evidence of that market producing 15 per cent price growth in less than a year. I personally purchased the property in this image.
The recent negative property media relates primarily to Sydney and Melbourne’s downturn. So, it seems appropriate to remind people that 1 in 3 Australians choose to not live in a capital city.
Last year, the population growth rate in 33 regional locations was equal to or better than half of Australia’s capital cities.
It also seems that many capital city folk have a perception of non-capital city locations that couldn’t be further from the reality. Many of these communities are thriving – why else would Propertyology be investing in several across the country?
To counteract the appalling quality of information that’s out there, Propertyology decided to produce this interactive map. Remembering that 4 out of 8 capital cities declined over the last year, any location that is currently producing price growth is technically ‘outperforming’ the national market. As your mouse scrolls over this map you’ll discover 64 non-capital city locations that produced price growth over the last year. Zoom in to find the 16 locations that produced double-digit growth. Doom and gloom?
Simply click on the various locations to discover specific rates of growth in specific locations.
[custom-mapping map_id=”11346″ height=”600″]
While property market performance in all capital cities (with the exception of Hobart) are currently uninspiring, those of us who analyse markets for a living anticipated this a couple of years ago. As we mentioned in our September 2016 Sky News interview (refer video at foot of this page), the much brighter news is the significant upswing in many regional locations.
In attempt to help more everyday Aussies to understand the investment opportunities across this incredibly diverse country, Propertyology has produced a number of reports containing quality information about various non-capital city locations. Here’s a summary of some investor education:
There’s more to regional locations than mining towns
The ‘capital’ in ‘capital city’ doesn’t signify higher ‘capital growth’
33 regional locations with higher population growth than capital cities
In addition to the 64 locations non-capital city locations where prices are already growing, there are a number of other locations where buyer activity is increasing, property markets are tightening, and new growth cycles appear imminent. Propertyology is helping people to invest in some of them right now!
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Capital City versus Non-Capital? Propertyology Head of Research, Simon Pressley, shares some interesting insights on Sky News [September 2016]
