Who shouldn’t go there and why?
Often property commentary is aimed at investors who want to get a quick buck. Sure, owner occupiers want their homes to rise in value too but if you’re choosing somewhere to live you may have a longer horizon over which to achieve that growth.
So while a market experiencing volatility is not a wise choice for an investor, a patient owner occupier could nab a bargain if they play their cards right.
Look at some of Queensland’s regional towns where locals were squeezed out of booming resource markets some years ago, but now they’re grabbing bargains as cash-strapped investors fire-sale their underperforming assets.
Allow us to insert a big caution here: buying property in a volatile market is a risky strategy, so unless you are a seasoned professional do not try this alone. Seek expert, independent advice and valuations.
So where are the areas where the bold might dare to tread while others run away?
Hotspotting founder Terry Ryder has released to news.com.au his “dirty dozen” list of bad places to buy real estate in Australia right now.
Not surprisingly, in Brisbane our inner city unit market made the list with rising supply and falling sales weakening prices. Lower prices reduces the cost of entry but the hundred-thousand-dollar question is how low will they go and can you ride out the bottom of the market?
For those who dare, check out Australia’s dirty dozen markets:
- Brisbane’s inner city unit market
- Mount Isa
- Selected resource towns in Queensland
- Parramatta
- Sydney’s inner south unit market
- Sydney Olympic Park precinct
- Melbourne inner city unit market
- Melbourne suburban markets
- Darwin and Palmerston in the Northern Territory
- Perth’s inner city unity market
- Small towns in western Tasmania
- Whyalla in South Australia
Prefer to buy somewhere safer? View our current listings for sale.
