Researching the property market
It’s a great idea to research the property market and the areas you are considering buying in. This initial groundwork can make you a more confident buyer. Is this going to be your home to live in or an investment property? It’s important to consider all the various factors that would help make this the right property for your needs or one that has investment potential.
When researching where to buy it’s good to consider lifestyle aspects such as proximity to the CBD, public transport options, parks and recreational grounds, schools and shopping centres. It’s also important to confirm if any current or proposed infrastructure projects, construction projects, power substations and electrical towers may have an adverse impact on the area of your choice.
To get a better idea of the median home prices or rental yields it is important to look at market trends and current prices of comparable properties. At Westpac, we can assist you with essential reports to help you make your decision:
- Seasonal Buyer’s Guide – These state-based reports provide an overview by state or territory and include a regional breakdown with market insights and commentary from Core Logic. You will discover region-based information on housing market trends – based on recent property data and analytics.
- Suburb Reports – These reports provide information that could help you to evaluate a specific area you wish to buy in. Just enter the name of your chosen suburb for a printable Suburb Profile report. Alternatively, talk to one of our home lending specialists who can provide these reports for you as well as provide you with a Property Report for any specific properties you have in mind.
- Property Reports – These reports provide specific details regarding a property including a valuation and rental estimate, property history details and additional property attribute details. Talk to one of our Home Finance Managers who can provide these reports for you once you have found a property you are interested in.
Things you should know
Credit criteria, fees, charges, terms and conditions apply. This information has been prepared without taking your objectives, needs and overall financial situation into account. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.
Property Reports and Guides: While such material is published with permission, Westpac is not responsible for its accuracy or completeness.