In NSW,the Upper Hunter had a median house price of $373,000 last year,on PRD figures,with an average rental yield of 6.4 per cent,above Sydney’s 3.5 per cent.
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The area’s unemployment rate is just 2.4 per cent and the report warned a lack of residential development could put upward pressure on property prices.
Further south,Wagga Wagga made the list with a median house price of $436,250,average rental returns of 4 per cent for houses and a jobless rate of 2.5 per cent.
Two hours west,Griffith in the Riverina region offers a median house price of $464,250,with a jobless rate of just 1.9 per cent and rental returns on houses of 3.9 per cent.
It may seem like an unexpected destination for Sydneysiders more used to considering a move to Wollongong or the Central Coast,but Griffith Real Estate director Brian Bertolin has seen a string of new arrivals from the capital over the past couple of years.
He said newcomers were pleasantly surprised to discover brilliant local food offerings,big-brand stores such as Bunnings and Kmart,pleasant weather and local sports for the family.
Bendigo offers affordable homes and a healthy jobs market.
Real estate conditions have eased a little since last year but a lack of supply meant hot competition.
“Lately it has been OK,prior to that you would get a house on the market and there would be seven or eight people chasing it,” he said. “Some buyers would miss three or four properties in a row.”
For a three-bedroom brick veneer house,buyers would need a budget of about $400,000 or more,he said.
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In Victoria,the report highlighted the northern Grampians,with a median house price of $287,500,low jobless rate of 2.9 per cent and rental yields of 4.2 per cent on average for houses,above Melbourne’s 2.6 per cent.
Monaghan’s Real Estate director Terry Monaghan said the area has plenty of jobs available,has had a limited supply of rental accommodation for years,and would benefit from more streamlined land development.
Drawcards include local wineries,lakes,mountains,tourist attractions,and a major project to build a dual highway from Stawell to Melbourne over the coming years.
House prices have gone up considerably,he said,as much as 30 per cent to 50 per cent for some pockets.
“There’s very few[properties] coming onto the market,so people are waiting and waiting,” he said.
The report also picked Wodonga,with a median house price of $450,000,a rental return of 4.7 per cent for houses and an unemployment rate of 2.3 per cent.
Bendigo rounded out the top picks in Victoria,at a median house price of $510,000,a jobless rate of 3.9 per cent and an average house rental yield of 3.9 per cent.
Further afield,affordable options are also on offer in Queensland’s Whitsundays (median house price $400,000),Toowoomba ($430,000) and Mackay ($412,000),as well as Tasmania’s Central Highlands ($250,000).