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The Property Hotspots for 2024
Property location hotspots for 2024

Those searching for the next thriving suburb or hotspot might not have to look too hard, because recent projections unveil 100 locations across the country poised to excel in 2024 and beyond.

In this video Kate highlights some of locations to look out for as we move into 2024.

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Hello everyone. How are you all doing out there. Happy 2024. I’m Kate Hill bringing you the best unbiased and honest content on property along with some fantastic hints and tips.

Stay tuned to hear all about some real property hotpots for 2024.

[Music] Those searching for the next thriving suburb or hotspot might not have to look too hard because recent projections unveil 100 locations across Australia poised to excel in 2024 and beyond.

These suburbs featured in the annual realestate.com.au Hot 100 were meticulously chosen based on diverse economic and local growth indicators such as supply and demand dynamics, population expansion and upcoming infrastructure projects anticipated to elevate property prices in the short to medium term.

PropTrack have emphasized the comprehensive opportunities scattered right across the country in this selected list. They explain that the factors contributing to a suburb’s hot status are numerous including its desirability, ongoing gentrification and relative affordability compared to surrounding areas. PropTrack’s latest property market outlook report anticipates a modest growth in the prices nationwide ranging between 1 and 4% over the next 12 months, slightly decelerating from the 5 and a half percent pace witnessed in 2023.

Perth and Adelaide are expected to outshine other capital cities in 2024. A trend reflected in the increase representation of WA and SA suburbs in this year’s Hot 100. This really reflects the fact that Perth and Adelaide have seen some of the strongest price growth over the past year, some of which will probably continue into 2024. The nominated Hot 100 suburbs were evaluated based on various growth drives including affordability, amenities, family appeal, location, investment prospects, gentrification, population growth, demographic change and infrastructure.

Looking ahead to 2024 a PropTrack economist highlighted dominant themes in the Hot 100 list emphasising the prevalence of family-friendly suburbs with excellent access to schools, parks and shopping precincts.

Many of these suburbs also boast robust transport infrastructure and relative affordability, presenting opportunities to buy below the medium price of their respective capital cities. Despite regional areas underperforming capital cities over the past year they noted that regional suburbs constitute approximately 40% of the Hot 100 list. They attributed this to positive net interest rate migration from capital cities to regional areas which is a trend persisting over the last two decades. Having said that, the selected regional areas are either in proximity to a capital city or possess diversified economy key factors expected to drive strong property price growth in those regions.

Compiled by a panel of industry experts including yours truly, the Hot 100 list offers valuable insights into potential outperformers although of course there is never a guarantee of that. It enables buyers to broaden their horizons, consider areas beyond their familiar landscapes, particularly beneficial for those priced out of their desired suburbs. So do check it out, I’ll put a link in the description below.

Have a look at it let me know what you think and I will see you all again really soon.

Bye.

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