Around this time of year, as the property market begins to pick up again, you’ll tend to find plenty of people touting that they have the next hot property market. They’ll claim that they have the magic bullet to your residential property investment woes, that they can point you in the perfect direction to make the most of your home loan.
You might be wondering if you can trust them about as far as you can throw them.
Think local
While general trends for the capital cities are a great way for the government to keep track of property price values, they are less useful for the investor interested in something on a slightly smaller scale.
For example, look at that classic property investment city of Sydney. In 2015, CoreLogic RP Data reported about 11 per cent year on year median value gains. Not bad at all. You might go and decide to buy a property in, say Voyager Point. Unfortunately for you, you’d have only seen a growth of 1.46 per cent, according to onthehouse.com.au.
As you can see, it pays to do a little more investigation than just relying on the city median.
Make your own predictions
As a private buyer, you have the luxury of being able to focus your attention. While research companies and real estate industry bodies generally have to supply info on a huge number of properties and markets, you can do something more akin to a case study.
You’ll want to look at local neighbourhood infrastructure improvements, ongoing or planned. Check out if there are any major residential developments nearby set to boost housing supply. Get a feel for the area. You have the chance, so don’t waste it.
Above all, remember predictions are only a mere indicator. Don’t rely on them to make the most of your investment. Finding a home loan is easy; just speak to us to get a great deal. The rest is up to you!
