Outer suburb insights from Red Report
Our expert agents in the outer suburbs have shared their top three trends and predictions for their local market in 2017.
Top three trends
- Outside area buyers
Suburbs such as Frankston, Cranbourne and Sunshine are seeing an increase in out-of area buyers seeking affordable housing.
- Transition to auctions
As demand increases, vendors are opting to sell via auction instead of private sale.
- Growth Growth Growth
Capital appreciation has skyrocketed in the outer suburbs, with areas such as Albion, Sunshine and Plumpton seeing between 20 to 30% growth.
The next twelve months is extremely positive for those investing in the outer suburbs. Affordable housing, coupled with infrastructure upgrades and improved amenities will draw intense demand from young families and first home buyers. Investors, especially those from Sydney and Brisbane, are continuing to place capital in the growth corridors too, catering for the increased demand for affordable rental homes as the population increases. The major infrastructure projects and school developments underway in the outer suburbs will also help drive capital appreciation in the outer areas.