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Australia's worst property locations


  • Reporter: Marguerite McKinnon
  • Broadcast Date: April 29, 2008

A list of Australia's worst locations to buy real estate has been released by national a property researcher.

Terry Ryder from www.hotspotting.com.au focuses on forecasting Australia's next property hotspots and has now turned his attention to the country's anti-hotspots.

"This is the property market's equivalent of the year's worst dressed list,"' he said.

"Successful property investing is not just about finding the right areas to buy. It's also about avoiding areas where property values may go backwards.

"While people can make big money buying in the right place at the right time, they can lose just as much money buying in the wrong place at the wrong time."'

The inaugural No Go Zones report nominated 13 locations across Australia for property buyers to avoid.

"Just as the most promising property hotspots have a number of elements driving their growth, the worst no-go zones also have multiple factors detracting from their future prospects," Mr Ryder said.

The worst locations to buy

Queensland
Dinmore, south-west Brisbane
Giru, in the north
Mount Isa, in the west
Sunshine Coast

"The Sunshine Coast is the Number One worst place to invest in property at the moment," Mr Ryder said.

Victoria
Lyndhurst, south-east Melbourne
Shepparton, in the north

Western Australia
Esperance, south-east
Kalgoorlie, outback

New South Wales
Bankstown, western Sydney
Blacktown, western Sydney
Parramatta, western Sydney

Northern Territory
Darwin, northern suburbs
Katherine, outback

For more information, visit www.hotspotting.com.au.

Australia's worst property locations

Australia's worst property locations

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