‘Supercharged’ suburbs

The report lists 100 Australian suburbs and towns as “supercharged” due to increasing sales of houses and units. 227001_01

By Alesha Capone

Point Cook and Altona have been named among the top 100 national “supercharged” areas for property sales in a new report.

The Spring 2021 Price Predictor Index, issued by residential property researcher and writer Terry Ryder through his investment advice website Hotspotting.com, lists 100 Australian suburbs and towns as “supercharged” due to increasing sales of houses and units.

They are the areas where future price growth is predicted due to strong sales growth patterns over consecutive quarters.

According to the report, Point Cook recorded 425 house sales between June and August this year, compared to 336 sales in the same period last year.

Point Cook’s median house price is $685,000.

Altona – where the median house price is $965,000 – experienced 110 house sales across the three months, compared to 77 sales in the same period last year.

Hoppers Crossing, with a median house value of $560,000, also experienced strong growth with 205 sales in the quarter (compared to 133 previously).

The report said that Wyndham and Hobsons Bay were among the Victorian municipalities where all suburbs have experienced a rise in house sales, along with Dandenong, Darebin, Glen Eira, Knox, Manningham and Stonnington.

“Elsewhere in Australia, 100 per cent growth municipalities are rare,” the report said.

The report said Hobsons Bay was “seven out of seven” with median house prices of $570,000 in Laverton, $670,000 in Seabrook, $660,000 in Altona Meadows, $855,000 in Altona North, $1.15 million in Newport and $1.48 million in Williamstown.

In Wyndham, Wyndham Vale and Manor Lakes recorded a median house price of $505,000, Werribee $530,000, Tarneit $575,000, Truganina $590,000 and Williams Landing $695,000.

Mr Ryder said Wyndham offered “good amenities and infrastructure at affordable prices”.

“Suburbs like Hoppers Crossing provide homes in the $500,000s in an area with good services and amenities, train links to central Melbourne and major local employment zones,” he said.

“The trend of more people working remotely also helps to boost demand in these areas.”

Mr Ryder said that while Wyndham was a good area for home buyers, the high vacancy rate in some new housing developments could “negatively impact the appeal of these locations for investors”.