Buying into leading affordable growth regions

The sea-changer/tree-changer rise is no surprise, but a recent report estimated the combined development value of Australia’s top 10 regional growth areas at more than $15 billion this year — with Greater Geelong, Victoria, representing $7.52 billion in value alone. 

This represents a wealth of opportunity for developers, with buyers looking to secure affordable options in regional investment. The report authors also attribute commercial, infrastructure and industrial projects due to start this year towards the residential potential of top-ranking regional growth areas.

These projects typically enhance liveability, such as solar farms, commercial hubs and transport links.

Top 10 regional hotspots

The report lists Australia’s top 10 affordable regional areas as: Whitsundays, Queensland, with a development value of $1.49 billion in 2021, followed by Mackay, Queensland, at $1.1 billion; Toowoomba, Queensland, at $1.36 billion.

In regional NSW, Port Stephens led the state with a development value of $1.36 billion. The Greater Hume Region, NSW, came in fifth, at $578 million in development value. Federation, NSW, near Wagga Wagga followed with a development value of $1.12 billion. 

Regional Victoria also featured strongly in the report. Greater Bendigo City (at $1.21 billion); Greater Geelong (with a whopping $7.52 billion in development value) and Warrnambool (at $591 million).

Last but not least in the rankings is Circular Head, Tasmania, with a development value of $1.43 billion.

These locations also had a rental vacancy of 0.4-1.5 per cent at the end of 2020, compared to 1.8-4.7 per cent in city areas. 

Queensland stood out for its huge demand in the unit rental market, which, for the first time in Brisbane, exceeded Melbourne prices this year. 

The Queensland State Government and local councils are also seeking new greenfield development sites. 

Notable New Zealand regions   

Taranaki, Whanganui and Gisborne on the North Island and Greymouth, West Coast and Invercargill on the South Coast rank as leading locations for affordable regional investment. Similarly, infrastructure development and lifestyle qualities enhance these regions’ appeal.       

First-hand research

To make the most of regional investment opportunities, getting to know the area and locals is an excellent first step. Acquaint yourself with reputable real estate agents, who will keep you informed about growth areas and investment potential.   

Do your own research to find out which developments or locations are proving favourable among residents and profitable for business owners. These are often the places to watch, as they could be on the cusp of a market boom. 

chrisbrown1224

Managing Director – New Vision Financial Services & New Vision Real Estate After years in the banking, finance & commercial sector Chris noticed that the industry needed a company with a personal touch that offered their customers a complete solution. In 2015 New Vision Financial Services was created to allow our consultants to use their experience (including approving and structuring large complex commercial transactions through to basic home loans) and to concentrate on offering a personalised service to their clients. With the growth and success of New Vision Financial Services a decision was made in 2019 to launch New Vision Real Estate to provide an end to end solution for client weather they be first home buyers or seasoned investors. Chris has built a team at New Vision Financial Services and New Vision Real Estate that have access to over 70 different lenders, insurers, lawyers, accountants and financial planners giving you more flexibility when making a decision. We offer a full service Real Estate agency offering Sales, Leasing, New Developments, House & Land and Commercial. Call me anytime on 0433 181 544 or email chris@newvisionfinancial.com.au The team at New Vision Financial Services have access to over 70 different lenders, giving you more flexibility when making a decision. Our consultants have had extensive experience within the banking, financial and corporate sector. At New Vision Financial Services we specialise in finance lending for home, investment, business, commercial, asset, debtor and many other requirements. As New Vision Financial Services has progressed, we have developed strong relationships with professional service providers such as; Financial Planners, Accountants, Settlement Agents, Leasing & Equipment Providers, Debt Management Specialists and any more to allow our clients access to a complete suite of services.