Conditions vary state to state
While the overall national market is weighted in favour of sellers, the balance varies from state to state, dependant on local economic factors.
“Each city, town and regional marketplace is exposed to different economic influences,’’ said LJ Hooker’s National Research Manager Mathew Tiller. “Consult your local LJ Hooker agent, who is your local specialist, to find out what’s happening in your community.”
According to the Index, New South Wales, Victoria, Queensland, South Australia and the Northern Territory remain in favour of sellers.
Like any property investment, location is the key. Buy something that is close to shops, transport and entertainment.
A view is also attractive to potential tenants, whether it is water, a park or even a district. A balcony to enjoy it from will also add to your rental return.
Always take into consideration the aspect of any apartment. A northerly aspect is desirable because it will deliver the most natural light.
In regard to the actual apartment, the less shared walls the better. Top floor is good because there is no-one above you, but bottom floor apartments are also good because they often come with a garden.
A good measuring stick when assessing an apartment is the overall state of the block. Are the gardens neat and tidy? Are hallway lights working? Is the elevator or stairwell in good condition?
To discuss your property investment needs, talk to your local LJ Hooker office today.