I get annoyed when I read the property investment magazines that are touting the latest ‘Hot Spot’ for investing. My biggest problem is that they don’t seem to take local knowledge into consideration, but rely on computer modelling.
For example, when looking at South Australia, the computer often picks on small country towns where prices have no doubt risen, but the number of properties and available tenants are very small.
This month’s Money Magazine had big headlines about the “Top Fifty Share Buys and Property Hotspots”. I was pleasantly surprised to find that they were promoting the northern council districts of Salisbury and Playford! I’ve been doing the same thing myself for years!
Here’s what they had to say:
“The municipality of Salisbury emerged in the second half of 2014 as the precinct most likely to deliver price growth in the coming year. Most suburbs in this LGA have median prices in the $200,000’s so affordability is the key driver. Another standout is Playford LGA. It’s another place that thrives on affordability – Playford has several suburbs with median prices less than $200,000.”
My suggestion: If you are looking for a good investment property, look at Salisbury and Playford.
