Hey
so im not really looking to buy right now but I'm still interested in knowing whats going on in the market. i like picking a few suburbs that i think will do well and look back at them down the track to see how they have performed. I don't know what people think of this method but i like marking down all the suburbs for a particular city or area of a certain city and then right next to them the median prices. every now and then you will come by a suburb with a median value of say 500k and its surrounded by suburbs with medians of 600-800k. if the location of this suburb is good i.e. within 15k of major city, with good fundamentals, then too me it looks like the suburb is guarrented above average growth. people wanting to get into those surrounding suburbs would settle for the lower valued one and eventually gentrification would take place and shoot up the price.
is this assumption accurate? does anybody else use this theory when researching property?
cheers
so im not really looking to buy right now but I'm still interested in knowing whats going on in the market. i like picking a few suburbs that i think will do well and look back at them down the track to see how they have performed. I don't know what people think of this method but i like marking down all the suburbs for a particular city or area of a certain city and then right next to them the median prices. every now and then you will come by a suburb with a median value of say 500k and its surrounded by suburbs with medians of 600-800k. if the location of this suburb is good i.e. within 15k of major city, with good fundamentals, then too me it looks like the suburb is guarrented above average growth. people wanting to get into those surrounding suburbs would settle for the lower valued one and eventually gentrification would take place and shoot up the price.
is this assumption accurate? does anybody else use this theory when researching property?
cheers