Data from realestate.com.au’s Investor Hotspots report shows investors are ‘flocking’ to secure their own piece of New South Wales and Victoria, with the two states attracting the majority of buyer attention.
The most searched for suburb according to the data, was Parramatta in New South Wales, with Victorian suburbs Point Cook and Carlton coming in second and third.
The remaining suburbs from fourth to tenth place were Blacktown (NSW), Glen Waverley (VIC), Penrith (NSW), Frankston (VIC), Auburn (NSW), Brunswick (VIC), Liverpool (NSW).
LJ Hooker Principal of Parramatta Nathan Sahyoun says investors Australia-wide are looking towards New South Wales and Victoria because they hold the most developed and offer financial security.
“With the New South Wales Government investing in Sydney’s west, it’s no surprise investors are interested in these areas,” Sahyoun says.
“The increasing living opportunities as well as a growing arts and culture hub is truly cementing long term capital growth in the area.
"With a second airport planned for Sydney’s west, I suspect investors will continue to flock to Parramatta for many years,” said Mr Sahyoun.
Paul Wolff, Director from Porter Davis Melbourne explains Victoria is attractive to investors because of location.
“Driving from Point Cook to Melbourne CBD only takes about half an hour which is really short compared to other investment areas including Werribee and Hoppers Crossing,” Wolff says.
“The proximity to the city is not only attracting investors, but also foreign and second and third home buyers,” said Mr Wolff.