Best Property to Buy in Australia

According to detailed analysis of the Australian property market, the Australian property forecaster Residex believes that the best property to buy in Australia right now is coastal real estate in previously untapped towns close to major cities such as Sydney and Canberra.

Areas such as Soldiers Point, Byron Bay (pictured) and Sapphire Beach are booming as they welcome an influx of residents from the major cities in Australia.  Annually some 150,000 Australians head out of the cities and to the coast in search of real estate and these increasingly property wealthy buyers are helping to inflate property prices to new highs.

While many talk about whether the heat has gone out of the property market in Australia, real estate agents in lesser explored coastal towns such as Avoca Beach and Kingscliff are rubbing their hands with glee as those who have profited from the booms experienced in the major Australian cities release their equity into coastal properties. 

An influx of property wealthy Sydneysiders have boosted the average price for a property in Byron Bay from AUD 600,000 to in excess of AUD 1 million in just over a year for example.

The properties that make the best buys according to Residex and the estate agents they surveyed are modern detached homes with the best sea or bay views, which is why Sapphire Beach in the Coffs Harbour area of Australia is doing especially well and anyone considering buying property in Australia for investment purposes might like to consider the area. 

New resort style developments in the suburb are being snapped up as they offer residents a village community with exclusive properties boasting the finest views.  Property prices are surging as demand increases and yet there remains room for short term expansion because many of the coastal towns now getting attention have had relatively slow moving markets for the past few years. 

These towns have lagged behind the rest of Australia in terms of property price growth which is how and why they are now booming.  However the Chief Executive of Residex was quick to point out that his company’s findings represent the current state of play in terms of the best property to buy in Australia and highlighted the fact that the boom currently being experienced in coastal resorts such as Kiama could well be coming to the end of their cycle.