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CANBERRA has emerged as one of the best investment locations in the country according to the inaugural Fast 50 report from Smart Property Investment.
The report highlights the top Australian suburbs geared for capital growth in 2012 and Canberra is leading the way.
High incomes and a scarcity of land will underpin strong growth in prices in the nation’s capital, according to the report.
“Canberra is the most consistent residential property market in the country,” Fast 50 contributor and director of NextHotSpot Luke Berry said.
“The ACT has Australia’s highest average wage – and there are no recessions in bureaucracy. The scarcity of land sees aspirants coming out to secure any rare releases.”
The report also said such strength in the local market is also expected to drive growing investment opportunities in nearby Goulburn and Yass as a greater number of people look to commute to the capital.
The Fast 50 hotspots were selected based on a range of key metrics including population growth, demand for housing, income levels, employment, vacancy rates, previous capital growth and current gross rental yields.
The report’s contributors included leading property economist Dr Andrew Wilson, TV personality and property expert Margaret Lomas, property research specialist Louis Christopher, property columnist Terry Ryder, property mentor Helen Collier-Kogtevs, independent mortgage broker and buyer’s agent Todd Hunter and director of NextHotSpot Luke Berry.
by CityNews on January 18, 2012