Property Credit has released a report that reveals the top 20 suburbs in Australia that are ideal for upsizing. The report takes into account factors such as house size, affordability, and future price growth to determine the best suburbs for more space and investment opportunities.

The top spot on the list goes to Belair in Adelaide, with a starting budget of $997,500 and a suburb score of 82. The report also highlights the suburbs of Berowra Heights and Hornsby Heights in Sydney, and Eltham North in Melbourne, as great options for those looking to upsize.

Perth residents have a plethora of choices, including Roleystone and Woodvale, with budgets under $1 million. In Brisbane, Tarragindi stands out with a starting budget of $1,250,000 and a suburb score of 78. Meanwhile, Canberra offers several suburbs like Curtin and Hughes, which have high suburb scores and starting budgets suitable for upsizing.

The report uses various filters to screen suburbs, focusing on areas that offer four-bedroom houses, have promising socio-economic profiles, and offer relative affordability and adequate housing stock levels. The Suburb Score, provided by Property Credit, aims to be an all-encompassing metric that considers not only the size of homes but also the overall community atmosphere and financial prospects for families.

Giordano Stepancic, the CEO of Property Credit, describes the report as a “game-changer” for families ready to upsize. With the ever-changing property market, the report aims to provide clear, data-backed insights to help homebuyers confidently make informed decisions about upsizing.

Overall, the report aims to help families find suburbs that not only offer bigger homes but also provide opportunities for social and financial growth. It aims to provide guidance and lift the fog of uncertainty that often surrounds property transactions.

Sources:
– Property Credit report.