Where to invest?
One of the most important considerations when buying an investment property is where to buy your investment property.
Not all areas are the same, some offering more than others.
The primary considerations that should be looked at include:
Cost: A lower than median cost for land, with the expectation that there will be strong growth in the short to medium term. Land in some outer suburbs or newly released estates can remain under valued for some time, but as these areas become more and more populated, their price always comes up to the average house price for that city.
Additionally, land in some growing country towns may be worth looking at. Of course, other factors enter in here, but this may be an appropriate strategy for some.
Rental vacancy rate: Different areas have different levels of tenancy. There are areas that right now have close to full tenancy of all available rental stock, and with an increasing population in those areas, this is set to continue.
Local amenities and infrastructure: While this point will result in both price and rental vacancy rate, it bears mentioning separately. Availability of local schools, public transport, roads, shopping and other facilities effects the amenity of the area, and plans for future construction and land release will be impacted by the inclusion or lack of these.
It should be noted that an investment property need not be located anywhere near where you live. You are in essence building a business here, and the property is the asset. Since other people will be managing the property for you through construction and subsequent renting, you need never physically visit the property.
There are several booming areas ideal for property investment in Australia. Our consultants have selected specific regions and are able to secure land in these areas, despite in some cases extremely high demand.
If you would like to discuss where you should buy your next investment property book your complimentary consultation with us.
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