Ferny Hills tops the list of most promising suburbs in Brisbane along with Eatons Hill and Strathpine, according to property research site LocationScore.
The research revealed the 15 top-performing suburbs over-all which saw Melbourne dominating the list with its suburbs Baxter, Dingley Village, and Gladstone claiming the first three spots, respectively.
Brisbane comes in at third place, after Adelaide, with Ferny Hills having a location score of 76, whilst Eaton Hills scored 75 and Strathpine scored 74. The location score is considered “Good” if it is above 62 and “Excellent” if it is over 77.
Ferny Hills is considered the most viable place for property investment in Brisbane notably for its good-quality homes and proximity to shopping and lifestyle facilities and the Ferny Grove train station.
Baxter (median price of $534,604), Ferny Hills (median price of $546,398), and Birkenhead (median price of $413,460) in Adelaide share a median price below the $550,000 price point.
Sydney ranked fourth with Cromer, Narraweena, and Greenwich, all having a location score of 73. Whilst Sydney properties are not considered affordable, demand is still relatively high which means prices could still grow.
What is LocationScore all about?
About LocationScore
LocationScore is a property-research platform that interprets big data to analyze and rank suburbs in Australia according to their location score. Location scores are more or less indicative of prospects for capital growth.
Every month, each suburb is scored out of 100 using eight key indicators to measure the level of supply and demand:
- Days on Market – The lower the average days-on-market are in a suburb means higher demand over supply.
- Vacancy Rates – A drop in the vacancy rate may indicate a potential rise in rents.
- Vendor Discount – The lower the average discount rate means higher demand.
- Rental Yields – Indicates potential capital growth and cash flow for a property market.
- Auction Clearance Rates- The higher the clearance rate means a higher demand.
- Percentage of Stock on the Market – An indicator or supply. The lower the supply the stronger the prospects for a strong price growth.
- Renter Proportion – The percentage of renters in a market compared with the total number of residents. The lower the percentage the better for the property investor.
- Online Search Interest – The recorded number of potential buyer searches. Comparing the number of searches over the number of properties, it more or less indicates the level of demand relative to the supply.
