HOW TO PINPOINT THE NEXT REAL ESTATE
'HOTSPOT'
1st December, 2005
Keeping on top of the latest changes and potential
plans for a suburb are critical in helping to pinpoint where
the next investment winners lie, according to Perth property
buyer's consultancy Property Wizards.
Managing Director Liz Sterzel said many people
wanted to invest their money in property, but choosing a suburb
that could offer maximum growth could be a daunting and confusing
experience.
"If you're reading widely about a suburb
being an ideal investment area, chances are you've missed the
boat," Ms Sterzel said.
"Investors wanting to make good returns need
always to be thinking ahead to try to pick the next prime spot
to buy into, and that means more on-the-ground research.
"At any one time there are usually about
half a dozen suburbs that are fertile ground for property buying
- but aren't yet widely recognised as being a 'hotspot'."
Ms Sterzel said identifying those areas ahead
of others meant keeping on top of market changes, council planning
and other government programs that drive property.
"This strategy can often mean you pick up
a very affordable and successful investment while everyone else
is still focused on an area that's already lost its spark,"
she said.
"Access to extensive market research, suburb
analysis and up-to-date sales data is an integral part of the
process, as are well-informed predictions of market trends.
"Reading widely on the key factors driving
growth in particular suburbs, talking to experts in the industry
and staying on top of factors influencing overall market growth
are also three main areas to keep your eye on."
