An influential investors’ report has identified Brimbank as a national property hotspot for 2014.
The Smart Property Investment “Fast 50” listed Sunshine among the suburbs set to “take off’’ this year, based on factors including population growth, household income levels, demand for housing, employment and vacancy rates.
Terry Ryder, a member of the panel of property experts that drew up the list, said Sunshine, with strengthened transport infrastructure and affordable housing, was “poised to become the regional centre for Melbourne’s western suburbs”. Mr Ryder added: “It has a major hospital with another in the planning stages, two university campuses and $800 million being spent on its railway station to create a major transport hub.
“Suburbs in this local government area can offer tenants good connectivity, while investors are attracted by affordability.”
Smart Property Investment editor Vivienne Kelly said Sunshine, with a median house price of $450,000 last quarter, could benefit from an improving market.
“If the inner-Melbourne property market heats up, Sunshine may benefit from a spillover of buyers who have been priced
out of other markets,” she said.
It is the first time a Brimbank suburb has been nominated for the list.
In December, demographer Bernard Salt told a business forum that Sunshine was poised to become a “pivot point” for investment between the south-west and north-west growth corridors.
Bell Real Estate director Stel Kyriakoula said Brimbank would only become more attractive.
“We’ve seen an increase in demand over the past six months in Sunshine,” she said.
“Sunshine has been under-appreciated for far too long.’’
