Experienced investors know there’s more to property investment than meets the eye. To be successful, you have to get the location and timing of your investment just right. And to do that, you need to do tons of research, especially with a field as localised as real estate.
A lot of aspiring property investors fall short when looking for the best property and suburb. This is where suburb reports come to the rescue. These reports are a property investor’s most valuable resource in the local real estate market.
Read on to learn all about suburb reports and where you can find them:
What is a suburb report?
A suburb report has all the pertinent information property investors need about an area. It can also be referred to as a suburb profile. You’ll get access to vital data including recent market activity and average property prices.
These suburb reports usually offer general information about your target market. As a property investor, these reports make it easier to decide if a suburb is worth investing in. The suburb report serves as a useful tool to guide you with your investment decisions.
What kind of insight can you get with a suburb report?
A suburb report allows you as a property investor to analyse a certain area’s recent market activity immediately. You don’t have to spend time riffling through individual property information. You can identify quickly what type of properties are in demand. Having key statistical data in your arsenal could give you an advantage when it comes time to buy.
Not all suburb reports offer the same information. Some may have more relevant data than others. With loans.com.au, we provide suburb reports with essential details such as:
Median sale prices – The average prices of homes in the suburb and how it has changed in recent years. You can easily identify whether properties in this suburb align with your financial goals.
Estimated property value – If you have a specific property in mind, you’ll see the estimated property price based on recent sale prices of homes in the area.
Market comparison – Details of nearby properties that are on the market or recently sold.
Property mapping – Maps of the street, surrounding facilities, amenities, and other points of interest. It also includes an aerial view of the property.
Properties sold in the area – Recent buyer activity in the area and what type of properties are sold. This section can help you figure out how competitive or desirable the suburb is for potential buyers or renters.
Suburb insight – A suburb’s demographics which include household incomes, structures, and occupancy. This data can give you an idea of what type of investment property is best suited for this area.
Using the data above, you can determine whether a certain area is worth investing in. You don’t have to waste time looking at properties that ultimately don’t meet your property investment targets. The suburb report is there to provide essential data to guide your choice.
Where can you get a suburb report?
You can acquire a comprehensive suburb report for free at loans.com.au! Access market insights on a suburb level to help you with your property investment. You can also get free property reports to gain a better understanding of potential investment properties.