According to Hotspotting’s latest Price Predictor Index (PPI) for Summer 2024, areas with steady market conditions over multiple years are delivering substantial long-term capital growth despite lacking the excitement of emerging hotspots.
The top consistent property locations across Australia include a mix of houses and units and feature suburbs like Botany (Bayside) and Wahroonga (Ku-ring-gai) in NSW.
Victoria has Mornington (Mornington Peninsula) and Ascot Vale (Moonee Valley) with a mix of unit and house options.
Queensland dominates the list with popular suburbs such as Albany Creek (Moreton Bay) and Noosa Heads (Noosa), offering strong appeal for both investors and owner-occupiers, while Western Australia featured suburbs like Mandurah (Mandurah) and Yokine (Stirling).
Hotspotting Director Terry Ryder said the research highlights the importance of stable markets in property investment strategies.
“The value of consistent markets should not be overlooked,” Mr Ryder said.
“Sure, consistent markets are not as thrilling as the supposed ‘next big thing’, but these areas offer a safe harbour for property buyers with the culmination of steady price growth over multiple years producing significant results over the medium- to long-term.”
Queensland dominates the list of consistent performers, with 29 locations across Brisbane and regional areas making the top 50.
Western Australia, despite its recent boom, only secured four positions.
Hotspotting General Manager Tim Graham pointed to specific success stories in these steady markets.
“Buderim on the Sunshine Coast has had remarkably consistent sales volumes for the past three years and its five-year capital growth average is 13.3 per cent per year, with its median house price rising 14 per cent to $1,250,000 in the past 12 months,” Mr Graham said.
The research also revealed a significant shift toward regional markets, with half of the top 50 most consistent suburbs located outside major cities.
New South Wales and Victoria rounded out the list with 10 and six suburbs, respectively.
Mr Ryder said Queensland’s growing appeal to investors can’t be ignored, with multiple factors driving its strength.
“This represents a turning point in the national property market, with the WA boom past its peak and attention switching increasingly to Queensland, which benefits from internal migration, such as the Exodus to Affordable Lifestyle, more than any other state or territory,” he said.
The findings demonstrate that steady markets often outperform volatile ones over the long term, with consistent sales volumes serving as a reliable indicator of future price growth.
“While our latest research seeks primarily to identify places where activity is growing and therefore with a likelihood of price growth in the near future, it also places great emphasis on locations where sales activity is steady over two, three or more years,” Mr Ryder said.
