Book Review Property Investing Made Simple
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I also read an article by Terry Ryder that busted the Myth that Inner-City suburbs are the best for growth. This was in the Smart Property Investor magazine. Outer suburbs and regional centres have consistently shown strong growth.
Ryder talks about how people perceive reality such as believing that inner-city suburbs, sea change suburbs, outer suburbs then regional centres, in that order see the best capital growth. He goes on to point out that if you flip this around it is closer to the truth. People buy in outer suburbs for affordability. So called property professionals (spruikers) have vested interests in inner city high rise unit crap. Many business’s have vested interests in inner city suburbs. Many buyers agents focus on these areas. Now the median house price is around 800k for Sydney and on the way there for Melbourne there will be increased demand for outer suburbs. The urban sprawl will keep sprawling. Children born now will find it very difficult to buy anywhere when they are in their early twenties.