Always a bridesmaid, never a bride. It’s a popular cliché, but when it comes to Australia’s hotspot adjacent suburbs, it may be wrong.
As Bondi, Toorak, East Perth and Bryon Bay explode in popularity (and price), their better value neighbours are seeing more and more action too.
The upshot? Many ‘bridesmaid’ suburbs are not so cheap and cheerful anymore (now they’re just cheerful). Besides creating an exponential chain of secondary, tertiary and quaternary bridesmaid suburbs, this trend is leading to what we’re dubbing the ‘Coogification’ of Australia.
What does this involve? Glamorisation, young professionals and steadily increasing rental prices.
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Not to mention Italian riviera like scenes.
Want a vivid image? Picture young lawyers mixing it with old dudes and army dischargees at Bronte life saving club, personal trainers yelling bankers into doing burpees at Coogee Oval and backpackers throwing frisbees in Clovelly.
DMARGE spoke to Edward Brown, Director at leading Australian real estate provider Belle Property to get the low down on Sydney’s biggest bridesmaid suburbs right now.
“The biggest bridesmaid suburbs are basically the suburbs adjoining those hotspots that are running at the moment,” Brown told DMARGE.
“Bronte, Clovelly, Coogee – Bronte was the first, Clovelly followed suit [and] now Coogee is following suit too.”
It’s a similar situation in the inner city too, with Brown pointing to places like “Surry Hills, Darlinghurst, Redfern, now those surrounding Alexandria,” as other potential bouquet catchers.
“Newtown was a hotspot so now the ones around that.”
Brown also encouraged us to think “where public transport might be,” and where infrastructure like “Westfields” are being built in our search for Sydney bridesmaid suburbs.
“Look for suburbs that are evolving – boutique cafes and restaurants because of more of a local demand – shift in demographic of owners.”
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As for other capital cities, here’s the score.
As of the 4th of September 2020, realestate.com.au says these are the best suburbs to invest in, if you want to get into the Melbourne property market.
- Box Hill South
As for Perth, realestate.com.au has the following investment recommendations.
- Jane Brook
- Mosman Park
As of February 2020, realestate.com.au said the best Brisbane suburbs to invest in were:
- Bridgeman Downs
- Carina Heights
- Everton Park
- Ferny Grove
According to Open Agent (in an article published in January 2020), the best suburbs to invest in, if you’re looking at Darwin (and it’s “boom bust” market) are:
- Fannie Bay
As for Adelaide, as of October, realestate.com.au were recommending the following five suburbs as investment options to consider:
- Glenelg East
- South Brighton
- Colonel Light Gardens
- West Beach
Finally, in Tasmania, Open Agent, in January 2020, called the following suburbs tasty picks for investors:
- South Hobart
- Sandy Bay
- Lenah Valley