As we enter the new year with different property market conditions around the country, Domain senior news producer Elizabeth Redman spoke to some real estate agents around the country who gave their top picks for 2019.
Here in Melbourne, Marshall White sales director John Bongiorno says early on in 2019 will be an opportunity for buyers in blue-chip Melbourne suburbs.
“It’s a great time for people to get into the areas they possibly haven’t been able to afford,” he said.
“The blue-chip areas have been knocked about heavily in some respects and probably overdone just a touch.”
Mr Bongiorno recommended buyers look at properties that passed in last year in areas such as Port Melbourne, St Kilda East, Richmond and Brighton in the hope to snare property they wouldn’t have thought they could afford.
If you’re looking to invest in property in Sydney, Matt Lahood from The Agency spoke to Domain and said the new light rail will open up suburbs that previously lacked access to public transport.
He says suburbs like Kingsford and Kensington, which are near the University of Sydney and Randwick Racecourse would be the prime beneficiaries of the new project.
“The reason people haven’t bought in the past is there’s no real infrastructure,” he told Domain.
“All these shops are going to appear around the light rail, they’re going to have cafes popping up.”
Still in Sydney, and Century 21 chairman Charles Tarbey suggests investors have a look west to the cities of Perth and Adelaide.
“The downward trend in Perth is fairly minor in comparison to what else is going on, in my view,” he told Domain.
“Mining’s a lot more structured and organized…there’s more stability in the market than we’ve seen for a long time.”
Mr Tarbey said that in Adelaide property was very well priced and had a good economic outlook.
While all of the Perth property market presents opportunity as it exits its long-term slump, William Porteous, director of William Porteous Properties International said blue ribbon suburbs Mosman Park and Peppermint Grove were his top two picks for this year.
“They’ve been depressed so much that they’re fantastic buying,” he said.
“Even though a lot of them are upmarket, they’re still cheap.”
Up in Queensland, Paul Arthur from Sotheby’s International Realty says he’s bullish about the south-east Queensland property market this year as buyers from Sydney and Melbourne search for a laid-back lifestyle and cheaper property.
Mr Arthur told Domain one of his top picks is the detached housing market in the city fringe within 5-10kms from the CBD.
Two of his top picks in Brisbane were Kalinga and Wooloowin and on the Gold Coast he highlighted Palm Beach, Currumbin, Burleigh and Carrara.