Note what it says about Logan…
With the latest Onthehouse.com.au data, I have identified the top 10 areas to watch in the year ahead, based on strong growth performance, cyclical growth expectations, upcoming developments and historical growth patterns.
While Sydney has been the clear growth winner in recent years, it is in a downswing of its current growth cycle so it is not on the Top 10 list. However, Regional NSW is set to be the winner in 2016, with four regional NSW cities topping the list.
Queensland also has a strong presence on the list, with a total of four metro and regional centres making the Top 10.
THE FOLLOWING TABLE LISTS THE TOP 10 CITIES TO WATCH IN 2016.
Here is my quick breakdown of why each identified area made the list...
City of Gosford, NSW
Lake Macquarie Region, NSW
City of Newcastle, NSW
City of Shellharbour, NSW
City of Whittlesea, VIC
Brisbane Metropolitan, QLD
However, an increase in tourism may drive employment; attracting migration and dwelling demand in the future. According to Tourism Research Australia, Brisbane was the third top holiday destination of overseas visitors, followed by the Gold Coast, with the Sunshine Coast also featuring in the top 10. There are currently also large development programs happening around Brisbane, including a casino at the Queens Wharf site. It is worth making the distinction that this may not be a long-term growth driver, but if you are only looking at movements for the next few years then this area has potential.
City of Logan, QLD
Greater Hobart, TAS
Gold Coast, QLD
The Gold Coast is also set to host the Commonwealth Games in 2018. Chairman of the Gold Coast 2018 Commonwealth Games Corporation, Nigel Chamier, has claimed that preparations for the games are under budget and ahead of schedule, enabling new sports facilities to be trialled in 2017. The government expects $2 billion worth of contracts across the Gold Coast and in other parts of the south-east corridor, in preparation and execution of the Games.
Finally, major residential developments are occurring in the Gold Coast CBD, including The Ruby Towers development, which is expected to be complete in six years time. Although the city centre has seen recent escalations in value, a spill-over of growth may also be expected in nearby suburbs such as Oxenford, Helensvale and Robina.