Beware the two-tiered property market
Whether it’s an apartment in Hawthorn, or a mansion in Coogee – you’ll understand the market better with a free Liberty Property Report.
25 Nov 2015
It’s hard to keep up with the property market. Foreign investors, local investors, and owner occupiers are all jostling for a place on the ladder which has seen prices increase rapidly in parts of the country, while dropping in others.
The government recently introduced a policy that is set to restrict foreign investors to only buying investment properties that are new, meaning older dwellings remain in the hands of local investors or owner occupiers. This has created a potentially dangerous situation where a two-tiered market is forming. Investors are bidding high on new properties based on limited local market knowledge. As a result, new investment properties are selling for six per cent higher than properties sold to local investors and owner occupiers, according to data from CBRE.
It’s clear that there’s never been a more important time for buyers to understand the market, and understand it well. Thankfully, there’s now a tool that collates all of the vital market information buyers need and puts it in one report. Called the Liberty Property Report, it allows buyers to see every sale and understand the types of properties lining the streets in a neighbourhood.
Whether you’re buying your first property, or fifth, the decision shouldn’t be taken lightly. Before anyone embarks on the journey of buying a property, it pays to do research. Now, most of the hard work is done for you. The report generator only needs a few basic pieces of information, but can provide you with a highly detailed overview of property activity in each suburb in Australia. Some of the features of the Property Report include:
- Quick Charts: For those looking for a quick snapshot of the area, quick charts show the median sale price for properties split by number of bedrooms and the type of dwelling. If you’re unsure you can afford an extra bedroom, the report will show you how much more you’re likely to have to pay
- Demographics: This feature helps give a clearer idea of what your neighbours will be like. It shows the average age of residents in the suburb as well as the composition of the families, their occupations and even education
- Housing: This will give you an indication of the average rent you could get if you’re an investor, while also telling you the average income per household, and a breakdown of the types of dwellings
- Recent sales: Keep an eye on the recent activity in the area by tracking the price and location of all sales.
At Liberty, we think knowledge is worth as much as the loans we approve. With this Property Report, we’re giving Australians access to knowledge that will hopefully help make the journey to buying a property a much easier and more informed process.
To get you own Property Report just click here.