PHOTO: In Sydney just 7.1 per cent of properties are deemed to be cheaper to mortgage than to rent.
A Tasmanian suburb with a population of just over 4000 has been named the smartest property investment over the past five years. Located approximately 27 kilometres north of Hobart, the quiet suburb of Brighton has had its median house price increase a staggering 75 per cent over the past five years.New data by buyer’s agency Propertyology has compared population growth to property prices, arguing that while the two go hand in hand it is not the only variable that impacts the cost of a house.
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The Sydney suburb of Camden took the top gong for population growth – boosting its stock of families by 47 per cent over five years – it only recorded a “middle of the road” median house value increase of 27 per cent.Other top performing suburbs around the country included Hobart City (up 62 per cent), Glenorchy (58 per cent), Hepburn in regional Victoria (up 60 per cent), Brimbank in Melbourne (up 57 per cent) and Mosman in Sydney (up 57 per cent). “There are few things on the planet that are more complicated than property markets,” writes Propertyology Managing Director Simon Pressley.
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