Flipping houses is a great way to create massive amounts of income, if you do it correctly. The one big thing that you need to keep in mind when looking to buy a new project home is to make sure that you are purchasing in an area that is thriving. Not one that has low prices and an average cost of living.
You need to look in the areas that have a booming real estate market, which is what we are here to discuss today. There are many cities that are a safe bet in southern Australia, but below you will find some of the most promising areas that you should look in to.
Victor Harbor
Victor Harbor may be one of the best southern cities to invest in property at the moment. Over the last couple of years, the cost of housing has increased by 10%. This may seem like a big jump to someone wanting to invest, but the prices are still fairly reasonable considering the rest of the nation. If you act fast this would be one of the top places to invest in.
Adelaide
Adelaide is one of the most overlooked cities in Southern Australia. The housing in and around this area has been on the rise for several years. It is the capital city of the state that has had increase in the cost of housing for the last decade. That is, an increase that has tripled and shows no signs of decreasing. Whether you are planning to flip a house, or turn it into a rental property, Adelaide and the close surroundings are a good place to look in to.
Mornington Peninsula
As more and more people living in the inner cities look for housing outside of the big cities any area that is on the outskirts of a large city center will be good choices to invest money into real estate. The cost to buy a building is a little higher in this area because they are in coveted spots, but when you think ahead to the return on your investment later down the road you will see for yourself that Mornington Peninsula would be a good place to investigate. Make sure that when you start looking for a refinancing cash-out loan to fund your enterprise that you go through a company like iSelect that will do all the leg work for you, leaving you with the task of sorting through numerous offers to find the best one for you.
City of Monash
The housing market here has risen drastically over the last couple of years, almost getting to be out of reach for most people. The average value of a house in this city is over one million, but many houses with high value are going for cheaper. Some of them for as little as 600k or so. This would be a good investment area to get into if you do it soon.
Hunter Valley
Hunter Valley, or the Hunter Region as it is called locally, is one of the major wine making areas in New South Wales. You may think that the prices of property here would be high, but it is still below the average areas like Syndney. This area is still on the higher side of things though, but since the entire country has increased there housing costs the Hunter Valley would be a great place to invest into the real estate market.
Final Thoughts
A couple of years ago we would have all laughed about paying a million or more for a house, but times have changed. The real estate market has increased dramatically throughout the nation, and throughout the world. It is not a localized problem, but rather a worldwide issue that will need to be addressed by the governments over the area.
The sooner the better, but for now, if you are wanting to buy a house that is a good investment in southern Australia you will need to shell out some dough. But if you approach it correctly you will still have a good return on your investment.
