If you are considering purchasing or selling property, understanding where your area currently sits in the property market cycle is invaluable.
Of course, looking at the property fundamentals affecting supply and demand in a specific area is essential for long-term gain. Some of the key criteria include:
– infrastructure and future infrastructure commitments
– proximity and type of employment opportunities
– new development construction and commitments
– affordability (price vs. income)
– proximity to good facilities (schools, hospitals, shopping, lifestyle and entertainment options)
– planning restrictions and zoning
However, whether selling or buying you should still keep in mind where the area is in its market cycle, as this can have a significant influence on the short-to-medium-term profitability of your investment.
The Herron Todd White monthly Residential Property Report provides an incredibly thorough analysis on the latest movements and trends for most areas around the country, and places all key regions in their property cycle via its Property Clock.
Here are the Property Clocks for Houses and Units as at March 2019:
Herron Todd White is one of the largest independent property valuation and advisory groups in Australia and their full report is certainly worth a read if you are looking at buying or selling.
If you’d like to discuss how I can assist you with financing a new home, an investment property, or a sale and purchase, please feel free to give me a call.