For those in the market to buy, rent, invest or build, chances are you want to know whether the location you’ve picked is a sound investment.
Or maybe you just like to keep across the latest housing and property data in any given area.
Regardless of your reasoning, it’s always a good idea to be aware of how the market is acting in whichever suburb you’re interested in.
Start with a suburb profile. You ask “What is a Suburb profile”?
A suburb profile is a page that gives readers an overview of the investor, demand, geographic and some demographic data, including price trends and links to neighbouring suburbs. Suburb profile pages are crucial reading for those looking to purchase in a particular area as they’ll give an idea of how well a property is priced, compared to similar homes in that specific local market.
What information do you get in a Suburb Profile?
- How many properties are available – Available properties are those that are currently on the market and listed on realestate.com.au.
- Mediam House Price – The median house price is the midway point of all the houses/units sold at market price (or sold amount) over a set period (monthly, yearly, quarterly, etc.).
- How many interested buyers – The number of interested buyers is a good representation of how many people are seriously looking at homes in that suburb.
- Days on the market – Days on market refers to the time a listing is live on realestate.com.au’s listing portal. A lower number means that properties are being snapped by buyers and a higher number means buyers are taking their time.
- Rental yield – As an investor the rental return you get ont he property.
- How do you know if a suburb is good? – There are two ways of looking at whether a suburb is good. Firstly, a good suburb is one that’s right for you according to your individual selection criteria. Secondly, you can also look at demand data to see how popular the average listing is in that suburb compared to neighbouring or similar ones.
Questions to ask yourself when deciding if a suburb is right for you
- Location
- Amenities
- School Zone
- Transport
- Distance to friends & family
When it comes to desirable loctions and amenities, these are as unique as each buyer. Some people want to live near parks and green spaces, while others prefer to be close to shops and cafes.
Give us a call at Metrolinx and we will help you create y9ur blue print to find your ideal property 0432 327 945.