Property investors are being warned that the traditional hotspot of a city or suburb might need to be rejigged as property buyers are being more selective in their approaches.
Bridget Kraft, property researcher for Property Club, suggested that investors take a “street by street” approach to investment properties as tenants follow buyers and become more selective.
“This trend has been facilitated by the easy access of information available via digital media, and as a result buyers and tenants are much more informed in their decision making about moving into a new property compared to a decade ago,” the property researcher said.
Ms Kraft believes tenants are taking a micro approach when selecting where they want to live, and property investors need to follow by taking the same approach.
“For example, buyers and tenants are now increasingly focused on the eco-friendly features of a home.
“This is just one of a range of micro factors that will result in homes properties in a well located suburb achieving higher rates of capital growth compared to other homes just a few streets away,” Ms Kraft explained.
Ms Kraft suggested that investors follow 10 key micro factors when they are looking to purchase an investment property: