Woolloongabba apartment precinct pinpointed as Australia’s best investment spot: ME Bank
ME’s list of the top 20 places to invest is dominated by apartment and townhouse-focused buying in capital cities across the country.
The new research from ME Bank suggests landlords are best off investing in suburbs with new or upgraded transport links - with Woolloongabba topping the list.
Analysis of the best places to invest found NSW dominated the top 20 rankings, claiming nine spots, followed by Victoria and WA, with three suburbs each and Queensland with two.
Woolloongabba is located in Brisbane’s thriving inner east.
Woolloongabba is serviced by two train stations and the new Cross City Rail Project will provide a new line running directly under the suburb.
The report noted an exciting atmosphere in Logan Street.
Australia’s top 20 best places to invest are:
1 Woolloongabba QLD Apartment
2 Burleigh Heads QLD Apartment
3 Five Dock NSW House
4 North Melbourne VIC Apartment
5 Rozelle NSW Townhouse
6 Ellenbrook WA House
7 Parramatta NSW Apartment
8 Crows Nest NSW Apartment
9 Preston VIC House
10 South Melbourne VIC Apartment
11 Yanchep WA House
12 Waterloo NSW Apartment
13 Coffs Harbour NSW House
14 North Sydney NSW Apartment
15 Pyrmont NSW Apartment
16 Claremont WA House
17 Mermaid Beach QLD Apartment
18 Miami QLD Apartment
19 Concord NSW House
20 Fairfield QLD House
ME commissioned the new research from Ethos Urban, a national planning and urban economics consultancy, using qualitative and quantitative criteria.
The best investment prospect factors included how new transport infrastructure would re-shape the investment landscape across the range of suburbs; average rental yields; recent population growth; median prices; and average rental prices together with lifestyle appeal measurables such as the availability of coffee shops and cafes.
New South Wales's nine spots included Five Dock (#3), Rozelle (#5), Parramatta (#7) and Crows Nest (#8).
“Key transport infrastructure projects like the Sydney Metro South West Project will enhance connectivity to the CBD from areas including North Sydney and Crows Nest, bolstering the already well-established apartment market and coffee scene,” the report said.
“Five Dock, Rozelle, Parramatta, Pyrmont (#15) and Concord (#19) will significantly benefit from the high-speed, high-frequency metro line connecting them to the Sydney CBD.
Victoria claims three spots in the top 10 with North Melbourne boasting fourth position as the North Melbourne underground will connect with Melbourne Central, Melbourne University and Flinders Street, while incorporating in the Arden Street Precinct Structure Plan.
Preston (#9) just pipped South Melbourne (#10) with its connectivity to Albert Park, good investment returns and capital growth, and lively coffee culture.
There were three Gold Coast suburbs on the list including Burleigh Heads (#2), Mermaid Beach (#17) and Miami (#18).”
WA secured three top 20 spots including the new growth area of Ellenbrook (#6), with its wineries and masterplan estate, then Yanchep (#11) and Claremont (#16) in Perth’s leafy western suburbs which will benefit from the Claremont station upgrade, "making it for a perfect residential apartment investment opportunity,” the report noted.
