The temptation of sunny shores is something that it is often hard not to give into, and if you’re looking ahead to your retirement or are a professional planning to emigrate to somewhere warmer, then no doubt Australia is at the top of your list. Home to some of the world’s best beaches and enjoying soaring temperatures we could only dream of here in the UK – not to mention a rich cultural scene and a cosmopolitan feel to its vibrant cities, anyone who is partial to a bit of sun, sea and sand has likely considered the idea at some point – and with the nation on the cusp of a real estate boom – its first since the turn of the century – it’s a great time to put the wheels in motion for your big move.
Selling up and moving down under comes with some obvious benefits, and with the cost of buying and renting in Sydney around 20 per cent lower than in London, you can certainly get some bang for your buck when it comes to property. Even so, the overall price of the house purchasing process in Australia tends to be slightly higher in terms of the national averages, so be prepared to blow the budget for your dream home.
Of course, where money is no object there are some spectacular existing properties to consider laying your hands on, as well as constant new developments in up-and-coming areas that could make for a savvy investment – and whether you’re eyeing up Melbourne, Brisbane or another location, enlisting the help of a buyer’s agent is a great way to get the inside scoop and make the entire process easier. Whether you’re looking to accumulate several properties as an additional stream of income, or simply shopping for your next family home, these are the areas of the country to have on your radar, including the top investment locations in each state for 2021.
New South Wales
New South Wales has been enjoying substantial growth this year already, and is poised to continue its upward trajectory in the second half of 2021. Sales activity has been spiking in regional centres across the board, with markets on the periphery of Sydney set to benefit from an increased spend on infrastructure and the resulting improvements in quality of life for residents.
The Blue Mountains shouldn’t go unnoticed, and along with the Southern Highlands, some exciting developments are afoot that could drive property value skywards.
Of course, if you’re looking for a slice of the beachside life, then Sydney itself is a fail-safe choice, with the northern beaches and the inner west home to some of the finest luxury properties in the city. Think breath-taking views, excellent amenities and a beautifully relaxed pace of life.
Melbourne has long been a popular city of choice for those emigrating to Australia, and it has remained resilient despite the challenges of the past year, so it’s still top of the agenda when it comes to Victoria property hunting.
The City of Monash offers excellent quality of life thanks to an excellent range of amenities and reasonably low cost of living, and the advancement of the Suburban rAIL Loop continues to boost its appeal.
Meanwhile, the Mornington Peninsula, on the southern edge of the Melbourne metropolitan area, has emerged as a rising star when it comes to Victoria’s property markets. Suburban house prices range from AUD$500,000 – AUD$1.5 million and the peninsula continues to prove popular amongst those looking to leave inner city areas in search of a more laid-back pace of life.
We’re finally seeing a long-awaited boom in Brisbane, with the upcycle surprisingly beginning last year, in the modest of the first wave of the pandemic. An excellent option for those looking to invest in rental properties to boost their income streams, rent prices are increasing steadily, and the surge in sales activity that we saw late last year has continued. House prices have also spiked by double-digit numbers – a sign that the momentum is continuing to build.
An increase in spending on new infrastructure has contributed to the boom, and regional Queensland is now one of the most buoyant regional markets we’ve seen in years.