PHOTO: Hobart is among a string of possible property hotspots across Australia, as experts offer their predictions for 2020. Photo: iStock
Australians last year saw record-low interest rates and dramatic price recoveries in Sydney and Melbourne, a federal election and a banking Royal Commission that sent waves through the property market.
Attention now turns to where the property hotspots of the new year will emerge.
Hobart is the strongest contender of the capitals, according to Propertyology managing director Simon Pressley.
He said the city had been a solid performer over the past five years, had a strong GDP, and was now experiencing a new surge of activity.
Work opportunities and affordable house prices – particularly compared with Sydney and Melbourne – would drive more buyers from the Australian mainland to the southern city, he predicted.
“Housing is still incredibly tight,” Mr Pressley added.
He suggested there was even more promise outside of the capitals, with another Tasmanian city tipped to shine.
READ MORE VIA DOMAIN