“It’s not what many want to hear but boring can be best when it comes to investment and a realistic timescale for property ownership is the life of a mortgage term,” Pete writes for propertyupdate.com.au.
“And the best locations to invest in are also what you might term ‘boring’ with a relatively predictable long-term demand. Slow and steady wins the race.”
Taking a look at the latest CoreLogic RP Data Home Value Index we can see that Brisbane is continuing its slow and steady climb, recording 4.1 per cent growth in the year to October 2016.
Sydney has continued its standout performance, recording 10.6 per cent growth over the same period.
While the resource driven economies of Perth and Darwin have suffered with these capital cities recording declines of -3.7 per cent and -3.8 per cent respectively.
The smart money continues to avoid inner city units, reports CoreLogic Research Director Tim Lawless.
“In most other markets, detached housing is generally outperforming the unit sector as concerns around the high number of units available for sale in the market dent buyer confidence, coupled with lending policies for unit stock becoming tighter,” he says.