Top Growing Suburbs in Australia for Duplex Development
Investing in real estate can be a bit up and down if youre not willing to do the proper research. Why? Because there are so many factors that can impact the success of your investment.
Whether its government spending, the economy, or the current state of the real estate market, there are a lot of things to consider before purchasing a property. The same is true for investing in duplex developments.
Luckily, there are a few steps you can take to better your chances of success. One of the easiest things you can do is to select the right location for your development. By choosing a suburb thats on the rise youll increase your long term gains and ensure youll be able to profit from the property for years to come.
Are you thinking of investing in a duplex development in Australia? Want to know where you should invest? Keep reading to learn which growing suburbs are perfect for duplex developments.
(All statistics were taken from Smart Property Investment)
- Luddenham 2745
This Sydney suburb recently saw its median home prices recently rise to $2,050,000. With an increase of 45.39% over the last year this makes it one of the fastest growing suburbs in all of Australia.
Over the last three years, investors have enjoyed capital gains of 81.42%, which equates to an average of 27.14% per annum. Rents in Luddenham 2735 are $650 per weak, and yields are currently at 1.64%.
- Bilinga 4225
Bilinga 4225, located near the City of Gold Coast, has been good to investors recently, with median house prices increasing by 43.97% over the last year. If that wasnt enough, Bilinga 4225 has delivered capital gains of 104.38% over the last five years.
The average home price currently sits at $979,000 and the average rent is $450 per week. Rental yields are currently at 2.39%.
- Minnamurra 2533
Located just outside of Kiama, this small suburb has experienced some big real estate growth of late. Median house prices have risen 39.53% over the last year, and 79.91% over the last five years.
You can expect housing prices to sit around $1,200,000, and rents are currently averaging $640 a week with a yield of 2.77%. While not located near a large city this suburb still holds a great deal of potential for investors.
- Milton 4064
Over the last three years, Milton 4064 has enjoyed a 54.17% increase in its median home price. Much of that growth occurred over the most recent 12 months, as prices jumped up by 35.05% to $1,050,000, making this suburb one you should definitely look at.
If youre thinking about renting you can expect a strong yield of 3.17% and weekly rents of around $640.
- Northwood 2066
With a median home price of $3,710,000, this is the most expensive suburb on our list. However, it may also be the one thats growing the fastest. Northwood 2066 has seen its prices rise by 34.18% over the last year and 17.55% over the last three months.
When it comes to rental income, the average weekly rents are $1600 and the yield is 2.24%.
- Bondi 2026
Located near the beautiful Bondi Beach, this suburb has experienced some really good growth lately, with median home prices rising by 34.09% over the last year. Thats been slowing down a little bit, but its still had a 5.36% increase over the last three months.
At this time, median home prices are sitting at $2,950,000. Average rents are $1150 and you can expect a yield of 2.03%.
These are just a few of the suburbs worth mentioning. Some others to consider are Malvern, Norwood, Gilberton, Kensington Park, and Hazelwood Park. Australia is full of opportunities, so do your research in order to find the best location for your next duplex development.