Whether your building your forever home or looking to turn a profit, the most important choice is one of the first, location.
Research reported by realestate.com.au has identified #5 key characteristics of a great suburb for this kind of project:
- A wide price disparity between new and existing homes.
- A high rate of gentrification.
- Strong family-buyer demand.
- Desirable attributes such as views and amenities.
- Limited numbers of character protected homes.
Check out the #6 suburbs that got the tick of approval:
1. Wavell Heights
A popular local suburb for families just 9kms from the city and dominated by homes on big blocks, we are seeing hoards of knockdown re-build projects happening here. Wavell heights scores the quinfecta of desirable mentioned above.
2. Seven Hills
Seven Hills is only 5kms to the city and it’s small size means supply is limited, which helps keep values high, plus it’s super elevated, which means, you guessed it… views!
Sitting 9kms away fort he city Tarragindi sports big blocks and houses with no character protection. It has a high rate of gentrification plus close proximity to the new metro infrastructure.
Alderley has a great mix of amenities and huge family appeal. It’s 7kms from the CBD with solid public transport options.
Corrinda has elevated streets and many spots with city views, plus a low median value for existing homes compared to new builds and little character home protection.
6. Gordon Park
Gordon Park does have some pockets of demolishable homes and its parkland lifestyle is a great draw card for families.