With the new year amongst us and the Sunshine Coast Market showing signs that it's a great time to either get your foot on that property ladder as either a first homebuyer or beginning an investment portfolio or better still growing your investment portfolio, here are some of our top tips for finding high-demand, low supply areas.
If there is no more capacity to build in the suburb, but demand keeps on growing, prices will likely climb. Top tips for finding high-demand, low-supply areas:
Look for areas where the rental yield is rising. This indicates that an area is popular among renters. When renters become homeowners, they also tend to buy in the same area they are renting in;
Look at the demographics of people moving into the area. Without meaning to sound ageist, suburbs where the median age is around 35 or so tend to gentrify faster as these demographics can have better income and are therefore able to afford to buy or rent more expensive properties;
Look for areas with rising population. Population in itself is not enough to push prices up, but when combined with other indicators such as rising income and low supply, this is a good indication that property prices will grow in the area.