I am not sure what type of research and how much research to do on the suburbs and areas has anyone got any good advice, I feel I am making this too hard when it doesnt need to be. I have looked at property grwth values mainly, but am trying to decide on an area to start investing further. Any advice would be appreciated as I feel I am trying to overanalysis too many areas at once.Thanks Jacq
Hi Jacqui,
You might also want to look at predicted population growth in the area, general population statistics.
As you probably know by now, demand drives the property values up. Obviously suburbs with better
population growth will do better generally.Look at the age of population too as it can help to determine a type of accomodation that will be required in the future.
Boris
“Follow your dream. Kick butt!”
Hi Jacqui,
For most newbie investers, stats don’t mean much and are expensive and then where do you get them from?
I suggest look at it from a practicle point of view. What sort of market do you want to invest in? eg low income or blue coller?
Decide that, then apply some reasoning. Low income – what are they looking for? Public transport, shopping close by, schools. They won’t be looking for nice street appeal, good roads, manicured front lawns or private shcools.
You can get into the whole stats and history thing which, don’t get me wrong, has its place. But when you are starting out the best thing to do is get a feel for the population either by visiting or internet. Target your market which narrows your field of vision and do the figures. If they work, go for it. Experience is the best teacher.[biggrin]
You will always miss 100% of the shots you don’t take!
Thanks guys for your help
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