Property investors urged to consider suburbs

Property investors in Australia have been urged to add houses in the suburbs of major cities to their portfolio.

A panel of experts working for Smart Property Investment magazine have highlighted the 50 best places to purchase buildings in Australia.

They found that New South Wales (NSW) had the potential to be a particularly lucrative area in 2012, with the state accounting for 18 of the hotspots.

The experts stated that demand for property was subdued in the main in 2011, although there were quick bursts where sales were particularly high. 2012, they added, is likely to follow a similar pattern.

Home loan customers may find that the suburban areas outlined by the panel are out of their price range, as the group has specifically picked regions where house prices have the most potential to rise sharply this year.

Recent figures released by the Australian Bureau of Statistics supported claims that NSW is set to be at the forefront of the property market once again in 2012, as home loan approvals grew by 4.2 per cent in November last year, which represented the biggest improvement in the entire country.

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