spiking prices<\/a> already.<\/p>\nMr Pell said Moreton Bay\u2019s growing median house price showed demand was outpacing supply, but well-located homes with the potential for renovation or a secondary dwelling were still selling for less than $1m.<\/p>\n
![\"Sep-20\"\/](\"data:image\/svg+xml,%3Csvg)
<\/p>\n
Townsville\u2019s continued growth and tight vacancy rates made Mr Pell call it \u201cone of the most undervalued markets in the country.\u201d Picture: Mark Fitz.<\/p>\n
Over in Ipswich, the population growth and heavy competition between owner-occupiers meant getting in the market would allow an owner to take advantage of quickly growing infrastructure, such as new communities and transport options.<\/p>\n
Meanwhile, Mr Pell said Townsville was \u201cone of the most undervalued markets in the country\u201d, thanks to its spending on defence, health, education and infrastructure.<\/p>\n
\u201cYields are strong, vacancy rates are tight, and investors can still secure properties with excellent upside potential,\u201d he said.<\/p>\n
<\/p>\n
The Mid North Coast of NSW and Greater Geelong in Victoria were seen as the two lifestyle markets outside of Queensland with great capital growth prospects. Picture: supplied.<\/p>\n
Moving down to NSW, the Mid North Coast was singled out for being a lifestyle market with a strong owner-occupier base, giving the area stability and strong prospects for capital growth.<\/p>\n
Finally, the Greater Geelong area was named the most resilient market in Victoria, lifted up by a diverse economy in the area.<\/p>\n
\u201cGeelong offers the lifestyle buyers want with the economic depth investors need,\u201d he said, \u201cand there is still room to buy quality homes with value-add potential.\u201d<\/p>\n
<\/p>\n
Buying in these areas is one thing, but gaining value from the markets as they grow could require improvements to the properties: such as renovations or new buildings entirely.<\/p>\n
To succeed in any of these markets, Mr Pell said active changes such as cosmetic upgrades all the way to new residences was important to see the most profitability from the market.<\/p>\n
\u201cBuying well is only half the equation,\u201d he said. \u201cThe real advantage comes from choosing markets where you can positively influence the value of the asset from day one.\u201d <\/p>\n","protected":false},"excerpt":{"rendered":"Experts have found five markets across Australia with home prices still under $1 million, where owners and investors…\n","protected":false},"author":2,"featured_media":617112,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[64,63,44],"class_list":{"0":"post-617111","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-australia","8":"tag-au","9":"tag-australia","10":"tag-news"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/617111","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=617111"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/617111\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/617112"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=617111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=617111"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=617111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}