First published 12/08/2012
Step 1. Identify ‘hotspots’ with high recent growth, preferably in the last 12 months
Step 2. Find the neighbours
- Go to Google maps or some similar service and find your ‘hotspot’
- Jot down the list of immediate neighbours
- Jot down the next couple layers of neighbours as well, since the ripples will often extend out later on in the cycle
Step 3. Chart each suburbs’ growth
- Go to www.youinvestment propertymag.com.au and enter each of your suburbs’ names paying special attention to last 12 months of growth
- Compare your high growth suburb’s recent spike to its neighbours’ recent performance – the bigger the difference the greater the potential
Step 4. Check for ripple indicators
- Investors still need to check that the drivers of growth will likely have a similar effect on the neighbouring suburb, so it is important to check for demographic and lifestyle similarities
- Also, beware of large development in the area – this could be a ripple killer
Can you afford to buy in this suburb? Find out how much you can borrow
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