First Time Investors – The Right Investment Property
Posted on 17. Aug, 2011 by admin in Services
First Time Investors – The Right Investment Property
A common mistake property investors make is choosing an investment property on emotion, instead of finance and logic. This mistake could lead to capital growth below the market average or low rental income that doesn’t cover the cost of the property’s maintenance. To avoid this mistake, it is important to do your research to establish your strategy before making a purchase.
Researching the Real Estate Market
There are now a number of websites that provide consumers with current sales results and the median house price for streets and suburbs. This information will help you gain an understanding of current market trends, the average house price and historical growth patterns.
>> PropertyDATA .com.au
PropertyDATA.com.au contains data collected by the real estate institutes. This site allows consumers to access the same up-to-date property sales data used by real estate agents, valuers and Australia’s major banks. This site provides free and paid property reports, median prices and suburb profile information.
>> Residex
Residex provides information on the real estate market, which consumers can purchase, including growth in prices, market movements, price estimation and research.
>> Real Estate Institutes
Each state of Australia has its own real estate institute that acts as their industry body. These institutes publish frequent commentary on the state of the property market, as well as median prices and other data.
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