If you are thinking of moving, then you’re probably keeping a keen eye on what’s happening in your local property market. Here’s a quick pick of some of the most recent news and updates; from the next upcoming areas to invest in, to housing price and rental forecasts…

Punchbowl Tipped as Next Hot Sydney Suburb

This unlikely area in Sydney’s South West, affectionately known as “Punchy”, has been named as the next upcoming area in the city. Just 16 kilometres from the CBD, Punchbowl is seeing an influx of new buyers flowing in from Sydney’s Inner West. With prices staying at an attractive low, Punchbowl is making moves to cater for its new residents. Already boasting the usual amenities, new housing and infrastructure developments are in place, alongside with plans for a fresh new image. Although close to the city centre, Punchbowl’s proximity to “the real centre of Sydney” today, Parramatta, is another point in its favour.

Rental Affordability Index: Plans to Solve Growing Problems

A new report has highlighted the increasingly urgent issues across Australia’s rental market. The Rental Affordability Index, released on Wednesday, suggests a worrying correlation between surging unaffordability and dwindling supplies. They found that huge numbers of properties are standing vacant throughout cities, mostly owned by offshore investors, while increasing numbers of people can’t afford to rent. A few solutions have been proposed to help. One is inclusionary zoning in cities, allocating a percentage of new developments to social and affordable housing. The Australian Taxation Office has also put in place a scheme whereby landlords leasing their properties for lower-than-market rates are entitled to claim back the difference in tax.

Inner-City Property Prices to Fall

Forecasters at Deloitte Access Economics are predicting the bursting of the bubble that has lifted the Australian housing market in recent years. Basing their predictions on over-supply against falling demand from investors like China, plus the backlash of the large mortgages which come with expensive property, they expect prices to fall by up to 15% by 2019. However, not everyone agrees. Others argue that population growth will continue to support the market, and that prices will only continue to rise over the next couple of years.

Investing in Canberra is No Joke

Thinking of relocating to a new city? It may sound like a joke to many Sydney-siders, who have long poked fun at the nation’s capital, but Canberra is actually well worth considering. Advocates for the pristine city have long extolled its infrastructure, lifestyle and housing opportunities. Finally, the rest of the Australia is starting to take notice. Those defeated by Sydney’s sky high house prices, or fearing that the housing bubble is about to burst, are recognising the real investment opportunities in Canberra’s robust market. House prices, though rising, remain dramatically lower than Sydney, while the city continues to make huge investments in retail, transport and entertainment.