Why Invest in Property Now?

Please click on this link to ensure you see the latest Median Housing Price Information for Diamond Creek. RealEstate Source.com.au

Well-known and independent property consultants, Charter Keck Cramer*, recently prepared a report about the residential property market in Diamond Creek (click on the link below to download the full report).
 
The information presented in the report provides compelling evidence to suggest that investing in property at Prospect Hill will be a well founded strategy in terms of both capital growth and rental returns.

The report states that there is a "limited supply of recently completed dwellings throughout Diamond Creek". This shortage of supply, coupled with "relatively rapid population growth in Diamond Creek" and "median weekly rent ... above that recorded across Metropolitan Melbourne", Jereton believe, will underpin moderate price growth in the short-term and stronger growth over the medium term. These factors, combined with the fabulous views, landscaped parkland and location of Prospect Hill will ensure a Prospect Hill home is an intelligent investment choice.

We have seen a strong residential market in the last 12 months. Whilst it can be said property prices are starting to rise off the zero growth period which we have experienced over recent years, we anticipate that this is just the start of a stronger period of capital and rental growth. The good news for purchasers who wish to buy in the short term is that the herd has not come back into the market yet, so there is plenty of room for growth.

The REIV reported 32.8% growth in Diamond Creek for the year ending September quarter 2007. This is a fantastic and promising statistic.



Download Diamond Creek Suburb Profile PDF (164k)

Jereton's recommendation in terms of buying now, as always, is to buy in undersupplied areas that attract wealthy tenants and have great amenity nearby (particularly public transport, schools and shops). We suggest that property selection should be based on a series of sound fundamental criteria.

Our Suggested Criteria Follows:

1. Location (Proximity to places where people want to 
     live, work and play).

2. Well priced.

3. Low vacancy, high rental returns.

4. High income base of people living in the area.

5. Little competing supply.

6. Leading edge design by recognised architects.

7. Small to medium sized project.

8. Reputable developer and builder.
 



^{*Charter Keck Cramer did not undertake a project-specific analysis of Prospect Hill and it does not necessarily endorse this project at the exclusion of other projects.}