Currimundi has made it onto a national property research group’s Top 10 Suburbs for Future Capital Growth.
The three-year forecast conducted across Australia revealed some of the top 10 areas could experience a median house price growth of up to 30 per cent.
The analysis by SuburbGrowth.com.au, which is part of the Select Residential Property Research Group (SRP), identified the top 10 suburbs within major markets. Currimundi sits at number seven on the list, with a predicted three-year forecast growth of 25.80 per cent, offering a median increase of $138,514.
SRP director of research Jeremy Sheppard says the research identifies the suburbs with sound market fundamentals, including the economic principals of demand and supply, that apply upward housing price pressure.
“The analysis uses 17 market variables to help us determine the locations with the best chance of superior price growth over the next three years,” Mr Sheppard says.
The top 10 predicted price performers are in Victoria, New South Wales, Queensland, South Australia and the Australian Capital Territory.
The Brisbane suburb of Grange is the only other Queensland area to make it onto the list, offering homebuyers a positive outlook of around $228,020 in extra value on a median house price of $884,000.
“The research highlights that each major region has suburbs with price potential, regardless of what the market cycle is doing at the time,” Mr Sheppard says.
“These suburbs all have a number of desirable features, however, one of the main reasons why house prices are forecast to grow is an imbalance of demand to supply. The thing is, even if prices end up only climbing by half as much as predicted, such is the nature of forecasting, it’s still a great return on investment over a short period of time.”