It’s not surprising that the most frequently asked question from property investors is:
“Where is the best place to buy an investment property right now?”
This question is a good one because we know that if you buy a property in the wrong location, you may have to wait many years before you see capital growth. This can bring your plans to build an investment portfolio to a screeching halt.
The real issue is that most people don’t spend enough time on dedicated research to understand the performance of specific property markets across Australia and undertake the level of due diligence to source a high performance property that is set for imminent capital growth?
What’s the reason for these locations and properties being so difficult to find?
Quite simply, there’s a massive number of locations to research.
There are 544 local government areas in Australia and 15,296 suburbs in those LGAs as specified in a recent report released by Ripehouse Advisory, a highly regarded Australian property research company.
The report reveals that 1,295 of those suburbs have highly diverse economies which is a positive when looking for a high performance suburb. Of those 1.295 suburbs only 356 had healthy rental markets where the vacancy rates were low and rents remained stable.
Of those 356 suburbs there were only 55 highlighted as being “safe havens”, in other words places to invest that are trending well despite current Covid dynamics.
To find these 55 suburbs using traditional research methods would take hundreds of hours of manual research but this information was sourced using AI technology that updates every 24 hours.
Naturally there’s a human component to the research and that starts with accurately analysing the data and then using the information to check the trends and understand how they align with indicators for imminent capital growth prospects.
In the near future, investors will rely more and more on technology to source locations which takes the guesswork and subjectivity out of “where” to buy your next investment property. It’s just a smarter way to leverage your time and effort.
After all, we don’t want to buy in a location that we “think” will work. Smart investors are already buying in locations that we “know” will work.
I recently interviewed Jacob Field, Director of Ripehouse Advisory on my Webinar series “10 Property Investment Experts in 10 Weeks” where he speaks about how the AI works and the results that our combined clients have achieved,
If you want to catch the Webinar here it is.