A two-tier property market is emerging across the nation, with Sydney and Melbourne continuing to outstrip the rest of the country in terms of price growth. However, it could be other major cities that offer the greatest long term investment, as experts point to steady rises in property values.
The Housing Industry Association (HIA) looked at official data to conclude that increases in annual rates outside the capital cities stand between 1.7 per cent and four per cent. Dwelling growth in Sydney registered at 19.9 per cent during the year to September, and 9.9 per cent in Melbourne.
"Overall, the significant variation in dwelling price growth – something we've been observing for some time now – continued in the September quarter this year, illustrating very different economic and housing conditions underlying the different capital cities," said HIA economist Diwa Hopkins.
If you're serious about investing, then property in Bunbury could offer you a good alternative to one of the capital cities. It's largely immune from some of the big shifts in prices seen in these locations and has all the amenities you'd expect from a large city.
The CoreLogic November Home Value Index showed that house prices in Perth were down 4.1 per cent year on year, and 1.9 per cent from the previous quarter. While there's every chance the market will pick up, it can be reassuring to know you've invested elsewhere in the state.
There are plenty of reasons why Bunbury could be the place for your first – or next – property investment. Many people are attracted to its enviable climate and lifestyle, while the city is also home to plenty of arts and culture.
Once you've decided that property in Bunbury is right for you, get in touch with our team of real estate agents.