Should I purchase an investment property in Brisbane or Sydney?
Whether it is Brisbane or Sydney, if you?re looking for a place with potential for capital growth, the experts reckon you should aim for place close to the CBD, because scarcity and demand will ultimately push the prices up.
If you?re looking for a good rental return and a steady cash flow consider buying in the suburbs or regional centres. Prices in these areas are cheaper so you?ll get a better rental yield.
Whatever the investment strategy you follow, there are some general things to keep in mind when deciding where to buy:
- Try to avoid places on busy roads or directly under flight paths.
- Waterside suburbs appeal to both renters and future buyers and they tend to at least hold their value.
- You don?t have to buy somewhere close to where you live.
Unsurprisingly, making a successful investment in property means buying the right place, at the right price, at the right time. So when you?ve narrowed down the locations you?re interested in, research the state of the property market in those areas. Keep an eye on vacancy rates, sales prices and rental rates. Look at the interest in the area, the current population growth and the projected population growth.
There are lots of websites out there to help you keep up to date with property market statistics for both Brisbane and Sydney. Take a look at the price mapping tool on ninemsn?s Money site.