This week, we want to equip you with valuable insights to help you make informed decisions about property investment. We’re excited to share with you the top five tips for evaluating property investment potential.
1. Check the Vacancy Rate
The vacancy rate is a crucial factor that tells you about the demand for rental properties in a location. You can easily find this information by using Google, Real Estate Investar, or CoreLogic. A vacancy rate of less than three percent indicates a tight rental market.
2. Look at the Population Growth
Population growth is another critical factor to consider when evaluating property investment potential. Areas with a growing population tend to have a higher demand for properties, leading to longer-term capital growth.
3. Compare Supply and Demand.
Supply and demand play a significant role in determining property prices. If there is a higher demand for properties than the current supply, it can lead to a rise in property prices.
You can find this information by working with a specialist buyer’s agent or conducting thorough research.
4. Check For New Infrastructure
New infrastructure, such as roads, train lines, shopping centres, and other amenities, can be an excellent sign of potential growth in a particular location.
Companies like Bunnings, McDonald’s, and Costco do extensive research before investing in new areas, making them a reliable source of information.
5. Invest in a Transport Corridor
Properties located within a transport corridor tend to attract more tenants and homebuyers, making them a smart investment choice.
People need to be able to get to work to afford their mortgage or rent, so it’s essential to consider the location’s accessibility.
By following these five tips, you can evaluate property investment potential with confidence.
Remember to do your research and work with experts to ensure you have all the necessary information to make informed decisions.
In conclusion, evaluating property investment potential can be a daunting task, but with the right information and guidance, it can be a rewarding experience.
We hope these tips have been helpful, and if you need further assistance, you can book a time in my calendar to discuss further by clicking here.
Happy investing!
Regards,
Geoff Tomkins
Buyers Advocate
PH: 0404 852 781
