Part of the thrill of property investment comes from its unpredictable nature. With some savvy investment tips in mind, you can make the right purchases in the right places and limit the risk you could encounter.
So where are the best spots in the country in which to get on the property ladder? A new report from CoreLogic RP Data indicates that real estate in Bentleigh could certainly present an attractive proposition.
The property research group's latest Pain & Gain report tracks the performance of homes resold over the last quarter throughout the country. For each region, the report indicates what percentage of houses and units were resold for a gross loss, and which for a gross profit.
This is calculated by comparing the properties' most recent sale price to their previous sale price.
In encouraging signs for those with property in Bentleigh and surrounding suburbs, Melbourne shone as one of the best performing cities. CoreLogic RP Data found that a whopping 96.5 per cent of resold houses in the city last quarter achieved a gross profit.
While the performance for units in Melbourne wasn't as strong (89.5 per cent), it was still one of the most lucrative cities in this regard, signalling ample opportunities for those owning any type of property here.
In fact, further analysis from the report shows that more than a third of those who sold their property in Melbourne not only gained a profit, but sold for more than double the original price.
As CoreLogic RP Data's research indicates, Melbourne suburbs such as Bentleigh could be incredibly appealing to property investors. If you're looking for a house or unit in this area, get in touch with Matt Hurlston and the team at Ray White Carnegie today.