By BRIDGET COOK
DESPITE being fired at with market busts, the GFC and shifts in supply and demand, Casey suburb Botanic Ridge has remained bulletproof.
The Australian Property Investor (API) magazine has analysed data and released a list of 152 suburbs across the country in which property prices increased each year over the past decade.
Botanic Ridge came in as third highest performing suburb in Victoria, only beaten by Balnarring and Beaconsfield Upper. Sandhurst also featured in the top 10.
Harcourts Cranbourne Real Estate sales manager Andrew Cassimaty said from a local perspective, Botanic Ridge was a popular choice among buyers for a number of reasons.
“We find it to be popular because the allotment sizes are typically larger than surrounding estates,” he said.
“This allows people to put larger, single-storey homes on there.
“It gives people more room down the sides of their home, so it has been popular with tradies.
“The suburb also has a slightly rural feel to in the middle of suburbia.
“These are the points of difference that make it attractive to buyers.”
API deputy editor Shannon Molloy said against all odds, the suburbs on the list had been immune to drops in home prices.
“That’s 2003 through to 2012 without a drop in values at the end of each year,” he said.
“During that time, most markets experienced an array of challenges and significant downward pressure on prices, but not these bulletproof suburbs.
Mr Molloy said while some suburbs might have had the odd month of backward movement, they all rallied to ring in each new year stronger than the last which was quite an achievement.
“There are a number of factors at play, including the affordability of housing, consistent demand for accommodation and proximity to diversified, strong economic drivers,” he said.
In Victoria, there were a whopping 59 bulletproof suburbs and towns.
“There aren’t many trendy, urban Melbourne suburbs that one might expect would hold steady, but rather the silent achievers that have flown under the radar, shown consistent growth and withstood market volatility to reign bulletproof,” Mr Molloy said.
