Why you should ditch the dud and buy a property goldmine

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THEY are the suburbs where homeowners could make over $120,000 in just three years, just by offloading their underperforming properties.

The top money-spinner suburbs — Charnwood and Karabar, both in the Canberra/Queanbeyan area — could see owners reap rewards of $123,520 and $122,546 respectively between now and 2022.

Bilambil Heights, which is just over the Queensland/NSW border, came in third, with a potential earning of $105,787 over the same period.

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This three bedroom house at Bilambil Heights is on the market for $545,000, and it even has water views

Located in the Tweed Shire, Bilambil Heights is just 30km south of the tourist mecca, Surfers Paradise, and 70km north of celebrity hot spot, Byron Bay.

Bilambil Heights is just 30km south of Surfers Paradise …

And just 70km north of celeb haven, Byron Bay Picture: Getty Images

Rounding out the top 5 were Underwood in Brisbane ($97,727) and Geilston Bay in Hobart, which could see house values jump by $88,949 in three years, according to new research by sellorhold.com.au, part of the Select Residential Property Research Group.

This Underwood house has three bedrooms and a pool, all on a 607sq m block. It is listed for offers over $499,000

The new research uncovered 15 affordable suburbs where buyers are tipped to make at least $50,000 in three years after offloading underperforming properties elsewhere.

The analysis identified the top and bottom affordable suburbs for housing forecast growth and took into consideration selling and buying costs.

The research showed that holding on to properties with poor price potential could cost owners dearly in just three years.

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High forecast growth locations over three years

(State — Significant Urban Area — Locality — Median House — Price Better off in three years)

ACT — Canberra/Queanbeyan — Charnwood — $439,483 — $123,520

NSW — Canberra/Queanbeyan — Karabar — $525,599 — $122,546

NSW — Gold Coast/Tweed Heads — Bilambil Heights — $559,164 — $105,787

QLD — Brisbane — Underwood — $538,244 — $97,727

TAS — Hobart — Geilston Bay — $475,613 — $88,949

VIC — Ballarat — Miners Rest — $400,425 — $79,644

SA — Adelaide — St Marys — $477,602 — $78,955

TAS — Hobart — Austins Ferry — $404,453 — $72,635

SA — Adelaide — Birkenhead — $418,158 — $71,945

SA — Adelaide — Largs North — $428,047 — $64,039

QLD — Sunshine Coast — Kuluin — $509,258 — $62,817

NSW — Newcastle — Maitland — Largs — $555,042 — $60,986

SA — Adelaide — Croydon Park — $468,535 — $58,470

TAS — Hobart — Old Beach — $448,259 — $50,958

NSW — Newcastle/Maitland — Tenambit —$442,552 — $50,089


(Source: sellorhold.com.au)

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Head of research Jeremy Sheppard said low growth forecasts were common in a number of suburbs in Darwin and Perth, which means that investors would likely be better off looking further afield.

“The research showed that vainly holding on to properties in some of these locations could see your property wealth erode every year,” he said.

“Savvy investors recognise that, even after transactional costs, they could potentially be better off by tens of thousands of dollars in a handful of years by simply literally cutting their losses.”

And this Kuluin property, which is listed for offers over $495,000 has three bedrooms and a 825sq m block.

The research analysed suburbs with median house prices between $400,000 and $600,000 located in significant urban areas.

In Queensland, Underwood in Logan ($97,727) and Kuluin on the Sunshine Coast ($62,817) were the suburbs to watch, with each suburb potentially sitting on a property goldmine.

Mr Sheppard said investors opting to sell out of underperforming markets to buy into the high performing regions could find themselves well ahead, even after transactional costs such as sales commissions and stamp duty were taken in to account.

Only one Queensland suburb made the top 15 list of low growth suburbs over the next three years, according to the research.

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Low forecast growth locations over three years

(State – Significant Urban Area – Locality – Median House)

NT – Darwin – Rosebery – $528,020

WA – Perth – Henley Brook – $577,080

VIC – Melbourne – Clyde North – $589,725

WA – Perth – Jindalee – $572,623

NT – Darwin – Farrar – $513,736

WA – Perth – East Cannington – $444,566

WA – Perth – Wandi – $507,977

WA – Perth – Shoalwater – $428,932

WA – Perth – Bentley – $451,875

QLD – Brisbane – Bahrs Scrub – $457,678

WA – Perth – Helena Valley – $570,389

NT – Darwin – Howard Springs – $599,621

WA – Perth – Munster – $523,772

WA – Perth – Piara Waters – $482,822

WA – Perth – Noranda – $524,283

(Source: sellorhold.com.au)

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