It will probably not come as a great surprise, but more and more Australians are choosing to live by the beach to avoid the hustle and bustle of city life.
So, when you’re in the market for a new home, finding the right location is crucial to ensure strong long-term capital growth.
For most buyers, your budget dictates which areas you can afford to live in or invest. The best way to determine your budget is to meet with a mortgage broker or lender and obtain a preapproval. Knowing your budget is a must before you begin your property search.
With your budget locked down, you’re now in a position to choose from a short-listed number of suburbs where you can purchase your desired property. Save yourself some time by ringing agents in the area. Ask what you can buy in your desired suburb within your price range, and if you can’t buy what you are looking for, ask which suburbs nearby will offer the type of property you want in your budget range.
Infrastructure drives property prices, which is why experienced investors follow infrastructure trends. Look at where the government is upgrading infrastructure, as it is a sure sign of an up and coming “hot spot”. For example, the duplication of the Southern Expressway, now provides a free-flowing corridor, giving people living in Adelaide’s south improved and quicker access to the city.
Areas that offer lifestyle attractions are favoured by buyers and renters when compared with other suburbs that offer fewer amenities. Walking tracks, large parks, beaches and community villages all offer unique points of difference, and of course, our beautiful beaches and coastlines.
In 2009, the National Sea Change Task Force suggested our local population would swell from 40,000 then to about 150,000 by 2050.
That ranks Victor Harbor and the Fleurieu Peninsula as being among Australia’s hottest real estate markets and strongest population growth centres over the next 40 years - so it’s a very exciting time ahead for the region.
Our region remains price competitive, offers value for money and a great lifestyle while still being within an easy commute to the city of Adelaide. More and more Australians appear to be valuing those attributes!