Well Home Loans has identified 20 suburbs with the highest growth prospects for units in 2022. Across these suburbs, apartments and townhomes are affordable and show strong signs of growth in the coming months.
These suburbs offer excellent opportunities for property investors and homebuyers looking to buy somewhere with promising growth prospects.
High growths are projected across Hallam and Burwood this year. After a price increase of 1.2% from November 2021 to the end of January 2022, Hallam’s median unit price is $505,000. Burwood saw a price increase of 4.7% over the same three month period, with a median unit price of $820,000 as of January 2022.
Burwood Brickworks is located within walking distance of a range of shops, entertainment and dining. With a commitment to sustainable living and community, Burwood Brickworks residences feature exclusive shared amenities that have been designed to bring the community together. With residences for sale from $440,000, Burwood Brickworks’ location in prosperous Burwood offers an unrivalled opportunity for savvy homebuyers and investors alike.
West Lake in South Australia has been identified as a unit market poised for strong growth in 2022. The suburb has a median unit price of $529,000 as of January 2022 and a price growth of 10.2%.
Australian Capital Territory
Canberra has developed into one of Australia’s most dynamic property markets for off-the-plan buyers. Well Home Loans lists t Gungahlin and Belconnen as areas of high growth with solid long-term investment potential
Gungahlin has seen a price growth of 2.2%, with a median unit price of $469,000. Belconnen’s median unit price as of January 2022 is $450,000, with a price growth of 1.1%.
For those looking to invest in the Belconnen property market, High Society features a diverse range of open plan layouts that provide luxury living at an affordable price. As the tallest residential building in Canberra, High Society beautifully captures the Belconnen locality and the extended vistas of Lake Ginninderra.
Nightfall is conveniently located in the Republic Precinct, Belconnen, with easy access to Belconnen Town Centre, retail offerings on the ground floor and public transport. Nightfall follows two successful stages of development at the Republic Precinct. With prices starting at $516,843, this nearly completed development offers an ideal opportunity for investors and home-buyers alike.
The Queensland property market is expected to continue its growth throughout 2022, which is also reflected in the data provided by Well Home Loans. Units in Mango Hill in Queensland have seen price growth of 5.6%, with a median price of $359,000. Newtown, QLD has also seen strong unit price growth at 4.2% and a median price of $270,000.
New South Wales
The NSW suburb of Kirrawee has also made the list of top suburbs for units in 2022. With price growth of 7.0% and a median unit price of $760,000, Kirawee offers strong prospects for investors and homebuyers looking to purchase a unit in NSW.
Devonport, Tasmania is listed as a suburb with strong investment potential. With a median unit price of $319,000 and price growth of 6.3%, this Tasmanian suburb is projected to see substantial price growth in the coming months.