Drum roll please … here they are:
- Taigum
- Northgate
- Clayfield
So what? Well, what’s interesting about this forecast, published in Property Tribune, is that the predictions all tip townhouses for great growth. While each of these northside gems offers its own collection of amenities and benefits, townhouses are tipped for growth glory because the price difference between townhouses and detached houses is significant.
Investors often favour units or townhouses because there are some serious upsides.
Units are typically cheaper to buy and offer higher rental yields. That means the rent you earn from your unit is more likely to cover more of your mortgage repayments and expenses than the rent you earn from a house.
However, there are some potentially serious downsides over the long term. Houses tend to have higher capital growth than units because the underlying land value is a key driver of price growth.
Units have less land so will typically grow at a slower pace.
These are broad rules of thumb so the important thing is to do your own research. Talk to several local agents to get an understanding of the local market dynamics before you part with your investment dollars.
Thinking of investing? View our current listings for sale or talk to us about landlording.