Are you an investor? Are you considering becoming an investor?
Investment properties in the Lake Macquarie area compared to the country as a whole over the last 12 months, has had an increase in the median house price of 12.95%
If you are new to the business, it can be daunting, but in this blog we have outlined tips & tricks that the old pros use to get ahead of the trends!
The first things to study are the current price trends in the area. For example, a potential investor should look to see if the price of homes is accelerating faster in one area than in others.
Next, check to see if the average home price is more than in other neighbouring towns. This will provide an idea of where the biggest demand is.
One sign that an area is up-and-coming and that it will be desirable in the future is the development of new infrastructure. When you see new roads and schools being built, it’s a sign that the community is set for a growth spurt. Investing in a growing community can be very profitable. In addition, certain types of development, like new shopping centers, may be extremely attractive to home buyers, and may also help keep the tax base low.
If the properties in a major city or town have become overpriced, the areas on the outer fringes most likely will soon be in demand. Areas like Lake Macquarie which are in close proximity to major bus and rail transportation are even more desirable.
It pays to do your homework and to tap local resources to determine which areas are hot now and, more importantly, which ones will be hot in the future. Much of the information is out there and free for the taking.
You just have to contact Dowling Lake Macquarie on 02 4958 8177 or simply email email@example.com