An Interesting List Of 10 Towns Touted For Property Investing
Terry Ryder, real estate researcher, believes that investors should stay away from ‘pure mining towns’ for the time being. He believes that to focus on “strategically located regional centres that were set to benefit from major new projects” would be the place to look at investing. Although mining towns have the opportunity to have big capital gains, if an investor is caught at the end of the ‘bubble’ when a project is completed, it can be a costly exercise and it is for this reason that he suggests the supporting regional towns which have other interests to support the town but enjoy the economy of the major new projects nearby.
For this reason he has chosen in his top 10 selection Bunbury with a desalination plant, a port upgrade in Ceduna, port and rail links in Geraldton and Newcastle, and industry and tourism in Gladstone as examples of his beliefs.
His 10 National Boom Town Hotspots are:
1. Bunbury, Geraldton, Port Headland and Karratha in WA,
2. Ceduna in SA,
3. Portland in Vic,
4. Gladstone in QLD
5. Orange and Newcastle in NSW.
This interestingly shows that Western Australia still will have a stronghold in the property investing field if all goes according to his research.
Given the still cautious economy that we are in, these predictions do seem to have substantial ground for their selection. It is not the time now to be considering possible growth, it is a time to concentrate on what is happening now and what growth the present economy can return in the areas that you are researching. Look for strength and back up when selecting your areas for property investment.
Of course, as we have discussed before there are still the areas that are naturally attracting migration such as Melbourne, Sydney and Brisbane.
Filed Under: Investment Strategies • Property News
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