DESPITE Bathurst and Dubbo both making appearances on this week’s Smart Property Investment list of the top 50 growth spots, Orange doesn’t make the cut.
To qualify in the “Fast 50”, a number of factors were taken into account including population growth, demand for housing, income levels, employment, vacancy rates, previous capital growth and rental yields, along with expectations for growth over the year.
Many of the locations featured in the top 50 were selected for their affordability with first-time buyers expected to lead growth in these markets.
Smart Property Investment editor Phillip Tarrant said Orange not making the list didn’t mean there weren’t investment opportunities in the city.
“There are still good buys available, there was just more of an overall thrust towards these [other] areas in this year’s report,” he said.
“Unfortunately there are only 50 places in the Fast 50.
“Orange boasts a solid, diverse local economy, including education, retail, health, agriculture, and of course, mining, which are all key drivers of property market growth.”
Mr Tarrant said investors needed to remember that with the right research and strategy in place they could buy well in almost any market as long as they had a plan and an exit strategy.
“For example, buying an under market value property and undertaking a cost-effective renovation is essentially manufacturing equity,” he said.
Blacktown was named the top place in NSW to make money from an investment opportunity.