Finding value in Australia’s hot property market can prove a challenge but new reports have highlighted some exciting prospects.
Affordable areas near capital cities centres
RP Data has listed the top five most affordable areas for houses and units within a 10 kilometre zone of Australian capital city centres:
Sydney: Wolli Creek for houses, Eastlakes for units
Melbourne: Bellfield for houses, Carlton for units
Brisbane: Rocklea for houses, Tingalpa for units
Perth: Glendalough for houses and units
Hobart: Clarenden Vale for houses, Glenorchy for units
Darwin: Malak for houses, Alawa for units
Canberra: Page for houses, Hughes for units
Research analyst Cameron Kusher has forecast further gains for home values in inner-city areas and recommends potential buyers look to cast their nets a little further.
Melbourne ranked most liveable city
Melbourne has been ranked the most liveable city in the world for the fourth straight year with Adelaide, Sydney and Perth also making the top ten. The Economist Intelligence Unit gave Australia’s second largest city an overall rating of 97.5 out of 100, placing it above Vienna in Austria and Vancouver in Canada. Across Australia Adelaide ranked fifth, Sydney came in seventh and Perth placed ninth. The Global Liveability Index assessed cities liveability by considering factors such as culture and environment, education, healthcare and infrastructure.
Aquaint eyes opportunities at Sydney Olympic Park
FNN spoke to Aquaint Capital Holdings Limited
(ASX:AQU) Executive Director and Group CEO Yang Po Tan about where the property investment company is looking for investments. Ms Tan highlighted Sydney Olympic Park as exhibiting attractive prospects but said the company is keen to purchase property across Australia:
"Right now Australia is kind of like on the transition point, whereby in the main cities the prices are pretty high. So for example Sydney/Melbourne prices are very high, however, are there still opportunities? Yes because on the outskirts there’re still pretty affordable properties, as well as they’re below market value that we can potentially tap into. So for these two cities, we’re looking at the outskirts. Whereas like Brisbane and Perth, we potentially are looking at their city centre. Reason because, Brisbane is a developing city, a lot of businesses in Melbourne are moving to Brisbane because of the cost factor.
So we feel that there’s still room for growth in Brisbane, that’s why we are targeting the city area. The same for Perth, because right now Perth, the government is injecting a lot in terms of infrastructure, so it’s a rejuvenating city, a regenerating city. So that’s why we would like to look at the city centre in places like Perth, where we think we can still get good value assets."
To watch more of the interview
click here Australian auction results
Sydney recorded an 82 per cent clearance rate from 435 properties for auction
Melbourne posted a 76 per cent clearance rate from 625 properties for auction
Brisbane booked a 44 per cent clearance rate from 66 properties for auction
Adelaide saw a 63 per cent clearance rate from 46 properties for auction
Listed property stocks report results
Industrial property investor Goodman Group
(ASX:GMG) has lifted its annual net profit to $657 million and forecast earnings growth in the year ahead.
Stockland Limited
(ASX:SGP) has boosted its earnings per share guidance after improving its full year net profit to $527 million on the back of positive residential market conditions.
Real estate investor DEXUS Property Group
(ASX:DXS) has posted an annual net profit fall but says the new financial year has started strongly, aided by the sale of properties.
Abacus Property Group
(ASX:ABP) has bought a 70 per cent stake in Towers 2, 3 and 4 of the World Trade Centre Melbourne with global private equity firm KKR for $120.4 million.
