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REGIONAL towns have topped a list of long shots — the ten locations where the property market could potentially boom, if everything that should go ahead does.
The Long Shots 2014 list, compiled by hotspotting.com.au founder Terry Ryder, is for those who would like to take a punt on where the future property hot spots may be.
Mr Ryder doesn't guarantee the areas will boom, but he said if everything planned for them did go ahead, it was likely the local property market would dramatically improve.
"(investing in these areas) is not for the faint hearted,'' he said.
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"A property investor with a crystal ball would have bought a house in the Queensland mining town of Moranbah a decade ago,'' Mr Ryder said."Ten years ago, the typical Moranbah house fetched about $50,000. In 2012 buyers were paying an average of $750,000. Values had grown at a rate of 31 per cent a year, spurred by the development of multiple major coal mines, an influx of mining workers and a shortage of accommodation.
"In the Western Australian regional town of Port Hedland, the median house price in 2002 was
$193,000. More recently it was $1.2 million, because of the town's relationship with the iron ore
industry of the Pilbara region.''
Mr Ryder said as the name of his report suggested the locations were risky propositions.
But he said even though values had fallen in areas such a Moranbah anyone who bought ten years ago would still be well ahead.
His ten long shots (in alphabetically order) are;
The city of Bundaberg is bouncing back after two major floods. Picture: Rob MacColl. Source: News Corp Australia
Bundaberg, Queensland
The regional city has been devastated by floods in recent years, but Mr Ryder said its recovery had been boosted by plans to redevelop the Port of Bundaberg and expand its airport.
Protesters in Gloucester are fighting against coal seam gas. Picture: Peter Lorimer. Source: News Corp Australia
Gloucester, New South Wales
The country town in the Hunter regional could change if coal and gas companies go ahead with plans for the area. The governments have approved 110 gas wells in the region and there are plans for a processing centre and pipeline in the region.
Hastings precinct, Victoria
"Hastings and neighbours on the Mornington Peninsula, south of Melbourne, have a solid property market,'' Mr Ryder said.
"But it will go to another level if multi-billion-dollar plans to upgrade the Western Port come off.''
Hughenden, Queensland
Mr Ryder said it was a typical outback town service surrounding farmers and struggling to maintain population and services.
"But a couple of billion dollar enterprises planned for the region may transform it into a hotspot,'' he said.
The main street of Morwell in the Latrobe Valley. Picture: Ian Currie. Source: News Limited
Latrobe Valley, Victoria
If proposed energy projects happen, values will rise but Mr Ryder warned a number of planned projects have failed in the recent past.
An almond orchard in Mildura. Picture: Glenn Milne. Source: WeeklyTimesNow
Mildura, Victoria
"Mildura has a solid economy, cheap houses and good rental returns. But to create capital growth, some of the proposed energy projects need to move beyond the discussion stage into actual construction.''
Newman, Western Australia
Mr Ryder said the remote mining town had been one of Australia's leading markets for price growth in the past 10 years. But in 2013 its median price fell. The market could recover dependant on the success of the Roy Hill mine project.
The township of Weipa near the bauxite, aluminium mine. Source: News Corp Australia
Weipa, Queensland
Mr Ryder said if two major bauxite projects go ahead demand could increase even more, driving up prices. But he warned one of the projects appeared to have been cancelled and capital growth prospects were a "long shot".
Port of Airlie, Airlie Beach. Source: Supplied
Whitsundays, Queensland
The Whitsunday region has the worst capital growth rate in Queensland. Units are worth less than five years ago. But fly-in-fly-out miners are moving in and may spark a revival.
Wyndham City, Victoria
The region is the nation's leading population growth area, but too many new homes were built in 2010-2011. Its future prospects depend on developer restraint.
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