A property hotspot is a location where there is high demand for property, low vacancy rates and good rental return potential. By investing in a property hotspot during a market downturn, you can take advantage of lower prices and the potential for capital growth in the future. With the right property management and investment strategy, you can make a significant profit when the market recovers.
The recent drop in house prices has been a boom for property investors looking to get into the market. Low prices and increased rental yields have made investment property a hot commodity, and savvy buyers are already snapping up investment properties in anticipation of future price growth.
While the property market may be cyclical, the long-term trend is always upward, making real estate a sound investment for those with the vision to see beyond the current market conditions. With interest rates expected to stay low for the foreseeable future, now is the perfect time to invest in property and take advantage of historical lows.
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Certain areas and cities are always popular with buyers, but there can also be up-and-coming neighborhoods or suburbs that are seeing a surge in property prices. One way to find these hotspots is by looking at property sales data and seeing where the highest growth rates are.
Another option is to look for areas with planned developments or infrastructure projects, as this can boost property values and attract buyers. Keep an eye on government announcements and local news for any updates. Staying apprised of real estate agent auction clearance rates can also provide clues about where buyers are investing their money.
While property prices and demand can vary from city to city, some suburbs and locations are consistently popular with property investors. In Brisbane, property hotspots include Newstead, the inner-city suburbs of Fortitude Valley, Kangaroo Point and West End.
In Melbourne, investors are looking toward up-and-coming suburbs like Deer Park and Altona North, as well as the property hotspots of Richmond and Hawthorn. In Perth, property investors are looking toward suburbs like Mount Lawley, South Perth, and Subiaco.
If you’re in the market for buying property, whether as a personal residence or investment property, it’s important to do your research and invest in areas that are likely to see growth and strong returns. Keep an eye on property market trends, government plans, and current demand to find the property hotspots for buyers.
Selecting the right investment property can be difficult on your own, with so many factors to consider and assess. At Ironfish our property and research team investigate a range of factors as well as relying on our own ‘off-market’ intel and expertise. Let us help you find the property hotspots to make profitable investments.
Ironfish provides property investors with expert guidance on which properties are most likely to provide strong returns. We take into account a number of key metrics, including population growth, infrastructure, proximity to jobs and transport, affordability and rental property demand. All our recommended properties must meet strict quality criteria, including being built by reputable developers, having quality architectural design, high expected rental income and appealing to owner-occupiers. This ensures that our investors can have peace of mind that their property will be in high demand, now and into the future. Our goal is to help our clients build long-term wealth through property investment. By carefully selecting properties that are most likely to appreciate in value, we can help our clients achieve their financial goals. Contact us today to find out how we can assist with your property investment journey.
Download our 2023 MyCity Property Reports to get more about data, trends and forecasts for our top 5 major cities on hotspots across the country.
References:
https://www.proptrack.com.au/home-price-index/
https://www.corelogic.com.au/news-research/news/2022/corelogic-home-value-index-six-months-of-falls-for-australias-residential-property-market
https://www.walkscore.com/cities-and-neighborhoods/australia
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