Rich Harvey's eight hotspotting must-ask questions
Hotspotting, or finding the best suburb in which to purchase an investment, is a crucial skill of every property investor. With the market heating up, it's only natural that competition in finding these locations has started to skyrocket.
A couple of weeks back, we spoke with Rich Harvey, managing director of independent buyer’s agency propertybuyer.com.au.
Harvey is a licensed real estate buyer’s agent, experienced property investor and professional economist. The propertybuyer.com.au team has purchased over 1,100 properties in total.
Here are some questions he asks:
What are the key drivers of the local market?
What property types are in the highest demand?
What price points are optimal?
What is the average yield and growth?
What streets should I avoid?
What has changed in the area in the last ten years?
What is likely to change in the near future?
What are the clear tractions that bring people to this suburb?