Looking for a hot property market without the scorching price tag? Fairfield has been named to REA Group’s Hot 100 list, signalling a prime opportunity for savvy buyers and investors.
This recognition is no surprise to property expert Peter Koulizos, who believes Fairfield offers a highly appealing lifestyle. He highlighted the suburb’s easy access to the city centre, abundant green spaces, and excellent amenities as key drawcards. The proximity to medical facilities and the University of Queensland further enhances its appeal to many residents.
Koulizos explained that Fairfield’s quiet streets and family-friendly atmosphere make it a highly desirable location. He added that ongoing urban development, improved public infrastructure, and its prime position near the river and city contribute to its attractiveness for buyers looking for convenience, comfort, and strong capital growth.
Hot 100 Highlights Affordability and Lifestyle
Fairfield’s inclusion in the Hot 100, a list compiled by a panel of experts and analysed by REA Group’s economic research team, reflects a broader trend towards more affordable suburbs with attractive lifestyles.
Cameron Kusher, REA Group’s director of economic research, noted that while some suburbs on the list have median house prices exceeding $1 million, they generally offer larger and higher-quality homes compared to similarly priced areas.
Kusher explained that buyers can still find premium suburbs with comparable properties at lower prices in Queensland, Adelaide, and Perth than in Melbourne or Sydney.
Growth Drivers and Investment Prospects
The Hot 100 methodology considers various growth drivers, including affordability, amenity, family appeal, location, investment prospects, gentrification, population growth, demographic shifts, and infrastructure development.
Anne Flaherty, REA Group economist, emphasised that the list aims to showcase lesser-known suburbs that may offer excellent value and lifestyle benefits.
Flaherty observed that with increasing numbers of buyers being priced out of many suburbs, people are expanding their search areas. She believes the Hot 100 helps educate buyers about alternative suburbs that provide the quality of life they seek.
Many listed suburbs, including Fairfield, boast strong investment potential. Flaherty highlighted their relatively high rental yields, particularly in Western Australia, where investors can benefit from strong yields and capital growth.
Melbourne Poised for Recovery
Despite recent price fluctuations in Melbourne and Sydney, both cities continue to attract residents due to their strong employment markets. Flaherty expressed optimism about Melbourne’s future growth prospects.
She stated that Melbourne is well-positioned for a recovery, citing its projected population growth, diverse economy, and appeal to international students and migrants. However, she cautioned that a slowdown in new construction activity could eventually lead to upward pressure on property prices.
Coastal Lifestyle Remains a Key Drawcard
The Hot 100 also features numerous regional suburbs renowned for their coastal lifestyle. Kusher acknowledged the enduring appeal of beachside living for Australians.
He believes that most people in Australia still aspire to live near the coast if they can.
Published Date 16-December-2024
![Tower Ad](https://brisbanesuburbsonlinenews.com.au/images/thenewtv-tower-ad.gif")
