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Areas Buying a Home and Selling

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It may be of interest to some of you that Realestate.com.au has a page where you can check on the area you are interested in and see how much interest there is in the property market in that area and also the age and family demographic of the area.

 

I today have looked at my Suburb where there is high demand, Frankston South, Langwarrin have high demand. Then again looking in the West Point Cook, Tarneit have low demand and Snctuary Lakes has average demand.

 

Therefore its very important to look at the market before buying because if for some reason you have to sell its obviously better to be in a high demand area. If intending to stay no matter what then it really does not matter and in low demand you can probably get property at a lower price. Over the years areas change so what is low this year may be high in 10 years say.

 

General rule of thumb is that if they are building new subdivisions in an area and you want to sell you are competing with the new builds who may be giving stamp duty savings as they are buying of the plan and paying on the land only.

 

So do your homework and check out all the tools on the property sites to help you.

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