BATHURST has been singled out, once again, as one of the property hot spots in regional Australia.
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Your Investment Property magazine’s latest issue has identified 35 regional areas set to surge – and Bathurst, not surprisingly, has made the list.
It comes at a time when regional areas are attracting more and more interest from savvy investors looking for the next growth suburbs outside of the nation’s capital cities.
The 35 hot spots made the list thanks to affordability, rental growth and limited supply.
Deputy editor Aidan Devine said there are strong indications prices in Bathurst will soon dramatically increase.
“Regional property markets have some very particular drivers and these have an impact on which areas you can pinpoint as soon to grow,” he said.
“Taking this into account, we’ve closely examined population trends, property cycles and where some of the country’s biggest future investment projects are going to be and used this to identify the most attractive areas for property investing.”
According to the magazine, when talking regional centres in NSW, it’s normally Orange and Dubbo that grab the attention.
“Rental yields have been particularly strong in these markets and it’s helped a lot that mining related investment has been increasing,” the magazine says.
“Meanwhile, many investors would be surprised to learn how Bathurst’s property market has been ticking along – growing strongly while the imagination of investors stays fixed on the state’s smaller regional centres.
“The city benefits from proximity to the central west farming region and Charles Sturt University, as well as the expanding mining regions in areas such as Dubbo.
“This mixed employment base has put healthy pressure on the Bathurst rental market, which has shown consistently low vacancy rates.
“Residential property values in the inner city have grown 8.8 per cent a year since 2002, according to RP Data, and many now forecast this to intensify.”