That’s the advice from RiskWise Property Research who say the true definition of a bargain is buying for future price growth.
“It’s more about knowing where to buy for long-term capital gain,” RiskWise CEO Doron Peleg says.
“Sure, there are a lot of well-priced houses out there but if they are not expected to grow in value down the track then they aren’t the best buy.”
But how do you know which of today’s well-priced suburbs will be tomorrow’s standout performers?
RiskWise has consulted its crystal ball and come up with its top #10 list of bargain suburbs across Australia.
Two are right here in our backyard: Stafford Heights and Gordon Park.
Stafford Heights and surrounding suburbs are continuing a popular run as new buyers renovate old houses injecting some modern charm – and value – into post-war cheapies. The median price in Stafford Heights is $603,149.
Gordon Park, with is proximity to the city and charming old Queenslanders is a long-time favourite for families and working professionals. You’ll pay more for the cost of entry here with the median price at $835,513, but it’s rubbing shoulders with some well-heeled neighbours so there’s space for price growth.
Check out the top #10 bargain suburbs and median prices:
- Norlane, Victoria, $370,931
- Lovely Banks, Victoria $455,868
- Hollywell, Queensland $786,614
- Mount Ommaney, Queensland $852,729
- Sinnamon Park, Queensland $747,272
- Gaven, Queensland $748,366
- Doonan, Queensland $841,189
- Gordon Park, Queensland $835,513
- Stafford Heights, Queensland $603,149
- Twin Waters, Queensland $852,843