Most people have heard the saying "property doubles every 7- 10 years" and according to long term charts previously posted we can see this is true even after periods where the global economy has taken a hit.
It's obvious investor's in property are always looking for the medium to long term so we can achieve good capital growth although some do get lucky during a "boom" period but that is the way investing goe's.
If you research the area's affordable to your income circumstances and use a few rules then the long term future will always look bright.
Look at such things as lifestyle factors, good infrastructure, working class suburbs previously considered undesirable close to cities (which tend be be more affordable).
I'm unfamiliar with the Vic/Perth market but 12 month growth in these South australian suburbs looked appealing, Remembering we all have to start somewhere...
Underdale-33Units sold up 47% 340k medium price Parafield Gardens-25units sold up 46% 262k medium price Ferryden Park-23units sold up 42% 310k medium price Toorack Gardens-25units sold up 38% 326k medium price
All I'm saying is it's not impossible to find a winner even during global economic hardship and for those willing to go long term will reap the benefits in the years to come.
