One of the most common questions I am asked is – Where Should I Buy An Investment Property?
The short answer is there is no one answer that covers everyone because property investing is based on your personal preferences, financial goals, borrowing capacity and your time lines and exit strategy plans. It then also depends on the micro property markets.
Generally speaking, Adelaide, Brisbane and Hobart have the best outlook for 2019, in terms of property investing. However, as I mentioned before, property investing is a suburb by suburb even street by street micro market.
This means you can find solid property investments just about anywhere, if you are prepared to look hard enough and know what you want.
Here are some key market indicators for deciding on an area.
Growth areas in property are generally around employment hubs. Growth areas are supported with new or planned new infrastructure: transport (roads, rail, airports, tunnels), the beach, schools, hospitals and green space and lifestyle amenities.
An area like Greater Western Sydney for example, continues to tick a lot of these growth area boxes.
Suburbs that offer community hubs, where locals can get together in a village type atmosphere with great cafes, bookstores, greengrocers, deli restaurants and pubs are becoming more important.
Another factor to consider is are there any favourable changes in Government legislation in your area? Like the new Low Rise medium Density Housing Code, that allows one and two storey dual occupancies, manor houses and terraces to be carried out under a fast track complying development approval process.
For me, successful property investing is being aware of the big and micro picture, being clear on your goals, narrowing your focus to pinpoint potential properties; doing your due diligence to ultimately identify a winner. Then the most important step is adding it to your portfolio!