ONE of Australia’s leading real estate trend spotters has picked Epping and the northern suburbs generally as premier investment areas.
Terry Ryder, of hotspotting.com.au, said the affordability of the area makes it attractive to investors and he predicted prices would grow over the next five to 10 years.
He said the Epping precinct, which covered the City of Whittlesea overall and the Hume City Council’s Craigieburn area, were expanding and were “standouts” for investors.
“It’s not just that is affordable, it has good amenities like shopping centres and the Northern Hospital,” Mr Ryder said.
He said changes to the first home buyers grant restricting it to new homes would improve the real estate market in new housing estates in the north. “On a $400,000 home the grant and savings on stamp duty could save $15,000 which would help a young couple building a new home,” he said.
Mr Ryder said although public transport and infrastructure in the area still “has a long way to go”, there were still enough facilities to support the growth area.
“There are reasonable road and train links which are improving and a good standard of housing,” he said.
“The Epping precinct and surrounding suburbs have a number of employment nodes [hubs] and upgrades to road infrastructure are seeing logistic and light industries moving to the area, and the [Epping]wholesale fruit and vegetable centre will generate jobs.
“In the long term, five to 10 years, investors will see a return. It is easier to get capital growth off a low [price] base, rather than a high base.”
Source: Northern Weekly by Sue Hewitt