Four westside suburbs tipped for 20-year price growth

If you buy or own property in one of these westside suburbs, you could be sitting on a long-term winner, an expert says.

Four westside suburbs have been identified as great prospects for long-term price growth over the next two decades, new research shows.

Realestate.com.au chief economist Nerida Conisbee said it was difficult to predict which suburbs would experience the highest house price growth two decades from now, but there were factors househunters should consider when looking at where to invest for the long-term.

Ms Conisbee said buyer demand was often a good indicator of future house price growth.

“It’s not a strict rule, but it does often come down to supply and demand,” Ms Conisbee said.

“So, those suburbs with high levels of search activity (on Realestate.com.au) relative to properties available often see growth.”

Paddington was the sixth-most searched suburb in Queensland, according to Realestate.com.au data, just behind Teneriffe.

In recent years it has recorded back-to-back double digit price growth, in some cases up to 16 per cent per annum.

Indooroopilly came in at 10th place, followed by Ashgrove in 11th spot and Red Hill (18th).

How to make a motza: where to buy property for long-term gains

Artist’s impression of a stylish new build by GRAYA at 192 Baroona Rd, Paddington. The suburb is tipped to continue its strong price growth.

Ms Conisbee also suggested looking at the areas where the younger generation was moving.

Younger families have been moving into the catchments of Ashgrove and Rainworth state schools and Indooroopilly and The Gap high schools in recent years as word spreads about their astonishing NAPLAN results.

“As a general rule, I think it’s wise to look to where young people are moving because they are good predictors of (house price) growth over the long-term,” she said.

Ms Conisbee said buying a house in a blue-chip, inner city suburb (if finances permitted) — even if it was the worst house in the street — would likely also be a good investment for the long-term.

“But who knows? Twenty years from now, everyone might want to live in regional Australia because of COVID-19” she said.