Location – How far away is public transport schools and employment? Historically areas closer to the CBD in our major cities have benefited greatly from these factors. Today to buy a property located close to the city, in most instances you are going to have to pay a premium and we expect this trend to continue.
Demographics – All major property booms in Australia have had population patterns as one of their driving factors. That is why it is important to understand demographics, which is the study of population movement and characteristics of human populations.
Infrastructure – New or improved infrastructure typically affects the property market by broadening the appeal of an area, thereby increasing the demand for houses or units in that location which leads to higher property prices and rising rents.
Affordability – There is no doubt affordability has become an issue for many young Australians. In recent years many have been priced out of the market in some of the more desirable locations in our major cities. You can still find pockets of areas that are cheaper to its surrounding suburbs. These areas will benefit greatly from the affordability factor.