Australian postcodes

Where you should NOT buy property: The Australian postcodes where homeowners are set to get burnt

PHOTO: Amid predictions of climbing house prices, Metropole Property Strategists has revisited RiskWise Property Research data.

  • Metropole Property Strategists has issued a warning about buying an apartment 
  • It cited RiskWise Property Research listing ten at-risk postcodes for unit buyers
  • Rouse Hill in north-west Sydney set to see unit numbers triple within two years
  • Sydney apartment prices fell in December for the eighth consecutive month 
  • Gosford on NSW Central Coast is expected to see unit numbers almost double

Australians are being urged to avoid buying apartments in postcodes where the number of units is set to double and even triple within two years.

The Reserve Bank of Australia is expecting median house prices to surge by 30 per cent during the next three years as a result of record-low interest rates.

Prices for units however could fall in some suburbs where there is already an oversupply of apartments and rental vacancies have surged as a result of the Covid border closure.

Australians are being urged to avoid buying apartments in postcodes where the number of units is set to double and even triple within two years. In December, Sydney's median unit price fell for the eighth consecutive month to a still dear median of $733,852. Mascot pictured

Australians are being urged to avoid buying apartments in postcodes where the number of units is set to double and even triple within two years. In December, Sydney’s median unit price fell for the eighth consecutive month to a still dear median of $733,852. Mascot pictured

This occurred as house prices last month rose in every state and territory capital, with new working-from-home arrangements diminishing demand for units near train stations.

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