We live in a country with vast expanses of space, yet we cling to the
major coastal cities for dear life and treat the inner-ring suburbs of Sydney,
Melbourne and Brisbane like hallowed turf that we can only hope to be worthy of
residing on.
Property taps into some of our strongest needs and desires – security,
safety, prestige, status, a sense of success, something to leave behind
for our children.
We all need somewhere to live, or somewhere to operate a business, and as
with any asset, when demand outstrips supply, prices go up – as we’ve clearly
seen over the past few months.
Having said this, there are a number of key factors that will always
play a part in the value of a property, in the most buoyant or subdued of
markets.
So let’s take a look at why some properties are more valuable than
others…
The character,
style and appeal of homes
Period, Federation and art-deco style homes, bursting with architectural
features and charm, are both harder to come by and more sought-after than
cookie-cutter new builds.
As such, they tend to grow in value faster than the same-same properties
surrounding them.
Homebuyers are usually willing to pay more for a home that has
character, a level of scarcity, or a twist – something special about it.
The bottom
line:
Like most things in life – supply and demand for a property determine
its value.
And in the future, Australia’s population growth, our increasing wealth as a
nation, and our desire to live in a select number of locations in our big
capital cities will underpin the future value of well-located properties.
RealRenta has all the tools that a property manager
has, but at over ¼ the cost of a property manager.
Join now and the cost is less than a cup of coffee a
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RealRenta also has a free vision, so why not check it
out
Jason Gwerder
Monday, 17 May 2021
