Exclusive: Property experts rank top inner city suburbs under $300k
Smart Property Investment has lead the way with a new groundbreaking report which ranks and reveals the best inner city suburbs where units can be bought for under $300,000.
Defying the common perception that investors are often priced out of the inner city market, the report has found 20 suburbs around the country within five kilometres of each capital city CBD where one in four properties still sells for under $300,000.
The top four suburbs on the list have all been located in the WA capital- Highgate, Mount Lawley, North Perth and West Leederville.
Expert panelists, RP Data’s senior research analyst Cameron Kusher, SQM Research founder Louis Christopher and Australian Property Monitor’s senior economist, Andrew Wilson, collaborated to assist ranking the suburbs.
A macro view, based on broader capital city prospects, was used to initially rank the suburbs, finding Perth to be the best choice.
"All the forward indicators have WA really breaking out of its trough," said Inner City Steals panelist Dr Andrew Wilson, senior economist with Australian Property Monitors (APM).
"In the first two months of this year, dwelling loan approvals were 32 per cent higher in WA than in the first two months of last year. That is an enormous lift," he said.
Had the chosen parameter been $350,000, Brisbane would have made an appearance in the list.
Smart Property Investment’s editor Phillip Tarrant explained that the 2012 Inner City Steals report proves there are still affordable opportunities available in capital city centres.
"Property markets close to the nation's major CBDs have long been highly sought-after, not to mention some of the best performers in terms of capital growth," he said.
"Increasing demand for inner city living and changing household demographics mean this property segment is set to remain in incredibly strong demand.
"Although property in these markets often has a high premium attached, the Inner City Steals report reveals that there are still properties within reach of most property buyers."
For the full 2012 Inner City Steals Report, investors can pick up a copy of the June issue of Smart Property Investment, on newsstands now.