By ALESHA CAPONE
SUNSHINE West and Hillside have been labelled “bullet-proof” housing investment hotspots by a leading property magazine.
The Australian Property Investor (API) magazine recently released a list of 152 suburbs and towns across Australia where prices have remained relatively resilient for the past decade.
The research group Residex analysed housing data to find out which areas ended each calendar year in the past 10 years in “positive median price territory” despite the GFC and changing demographics.
Residex founder John Edwards said bullet-proof areas were also assessed on affordability in respect to residents’ income levels.
In the API article, units in Sunshine West were listed as a “bullet-proof” residential investment.
The API said Sunshine West units have a median price of $325,500 and an average rent of $300.
In the article, Secret Agent buyers’ advocate Paul Osborne described the West as a “new frontier” in housing.
Mr Osborne said Sunshine West boasted “a diverse ethnic population that has helped drive interest from a range of backgrounds”, is located only 15 kilometres from Melbourne and has a range of services available.
“The look and feel of Sunshine West is changing, as homeowners undertake renovations of their properties,” the API story said.
“While there has been a problem with crime in the past, it’s improving, thanks to a concerted push from authorities.”
In addition to Sunshine West, the API named Hillside houses as a second bullet-proof investment option in Melbourne.
Hillside houses have a median value of $404,000 median value and a median rent of $380.
Other Victorian units and houses on the API list were located in Attwood, Bacchus Marsh, Diggers Rest, Frankston South, Greensborough, Montmorency, Sunbury and Upwey.
