Our focus on the year ahead continues, today looking at opportunities that buyers can look out for in 2012. Executive Chairman, Tim Fletcher goes through the key points:
Housing prices in desirable areas are as low as they will ever be, so if the recovery continues my advice is not to procrastinate but to buy now.
Look for areas with new infrastructure and employment opportunities, as well as older areas that are becoming recognised for one reason or another (freeway access or simply good development and proximity to the city).
Think of the suburbs that used to be undesirable such as Port Melbourne and St Kilda…their 'day' certainly came!
In addition, baby boomers will perhaps have the biggest effect on the market as they scale down and change their lifestyle – so the trend for easy, low maintenance lifestyle properties will grow.
The desire for units/townhouses/apartments close to facilities and transport is expressed not only by first home buyers but also by our ageing population and migrants who are used to high density living.
Check in tomorrow for the key suburbs that Tim predicts will grow in 2012!
1 Dewrang Crescent, Blackburn – an example of a low-maintenance home in a convenient location.
in Miscellaneous