With clearance rates continuing to hit an all time high across the country, how do you determine which up and coming locations will give you value for money plus a great return on investment?
It can be as simple as turning to a reliable website like - the Australian Bureau of Statistics to research the suburbs that are currently showing strong signs of capital growth.
You can use the site to brush up on key data such as demographics and housing around Australia. Identify locations that are experiencing urban renewal, population growth and gentrification and you could be taking advantage of the current property climate like a pro.
Other indicators to consider include:
1. Occupation. Look for high numbers of professionals and managers congregating in certain areas. These residents will have more to spend on buying or renting property. Where wealthier individuals are moving into a suburb, the growth rate of incomes will be greater than the state/national average.
2. Education. Higher percentages or growing numbers of tertiary educated individuals in a suburb over and above the state/national average also indicate people with higher salaries.
3. Stable employment. Good employment opportunities in an area suggest house prices and rents will continue increase.
4. Government housing. Areas in which the percentage of government housing rentals is below the state average are a good bet for investments.
Once your initial research is done and you’ve found an up and coming area to invest in property, it’s time to start researching the best mortgage options for your needs. I can help. Call me today.