Whenever you plan to invest in a property, it is a given that you must research about it. This doesn’t mean that you need to go through heaps of data and end up dazed about the whole process. You can look at the yearly statistics and understand the nature of the price trends to make an informed decision. With Brisbane becoming a sought-after location for investors, the buyers need to be well-prepared to make the most of their invested money. Here are the three statistics that every property investor must keep in mind while putting his money in the real estate property market in Brisbane.
Median House Price IndexYou can easily find out the residential property price indexes for the capital cities of Australia to base your research on the gains and losses in the last quarter or year. The rise in the price can be attributed to many factors including piqued interest of overseas buyers in Brisbane and higher rates in other urban cities. You can comfortably analyse the right time to invest in real estate market through the comprehensive data provided by the government on a regular basis. You can undertake further research for a profound understanding of the rise or fall in the price index.
Timeframe Of Property On MarketThe period for which a property is available on the market ranging from the day it is advertised by the seller to the day a buyer purchases it is known as time on market. It is a vital statistic for an investor because when the demand is on the higher side, the property will be sold quickly. The quick sale and growing demand both push the prices upwards. Similarly, if the vacancies are higher than the demand, then the sales will take time and prices will come down. It helps the investor to identify which are the hotspots for making a sound investment.
Demographic Data of the LocationThe demographics of a location can have a significant impact on the prices. An increase in the gentrification can be identified by analysing a variety of statistics. For example, an increase in the number of young married couples, the influx of skilled immigrants, increase in the number of high-net-worth individuals, increase in the number of families with working females and more such data conclude that the prices will rise as the disposable household income has amplified from what it was a few years ago. In fact, with growing population in the inner regions, suburban properties in Queensland will outperform cities which were earlier ruling the roost.
EndnoteThus whether you are a first-time buyer or a veteran investor, you need to take up both macro and micro research to ensure the best property selection in Brisbane.