Investment property ‘hotspots’ moving further out
As the growth in the last two years in areas Like Oran Park and Schofields have shown, investment property ‘hotspots’ are moving further out from the CBD.
The commuter hubs around our major cities were usually within a 20-50km radius from the centre of the city but as our major cities sprawl, we now have commuters who are regularly travelling up to 150km each day just to get to work.
Even The Gold Coast is prooving popular for Brisbane commuters
House prices and high rentals are forcing Sydney city workers to live as far away as Wollongong or Newcastle. In Melbourne, commuters are travelling into the city from Geelong, Ballarat and Bendigo and in Brisbane; the regular commute is common from the Sunshine Coast and the Gold Coast.
Demographer Bernard Salt says the burgeoning and established commuter hubs are growing, attracting “substantial populations”.
The principle reasons stated by Salt for commuter hubs extending out are improved train travel times and upgrades to road links. These certainly make the daily commute more manageable, but there are other reasons why we are seeing demand and price growth in some of these commuter hub areas.
Many of our new areas are being built as integrated towns or small cities in their own right. They are not just expanding commuter suburbs, but places with their own town centres and industrial estates and office blocks as well as other necessary infrastructure like schools and hospitals. They are becoming employment hubs in their own right, offering new local jobs to the increasing population.
Another factor is the rise of technology. Since the early part of this century, executives and business owners have been taking advantage of electronic communication to base families in life-style areas such as the Gold Coast where businesses can be run with a phone and computer with an occasional commute to Sydney or Brisbane. The idea of living away from the hustle and bustle of city life is very appealing to those seeking a beach or country lifestyle for a growing family.
So it’s not all about commuting and convenience to the jobs in the city. It’s often about lifestyle and affordability that contribute to investment property ‘hotspots’ moving further out. Read more: http://goo.gl/rd5QZs
