One of the key factors when looking at property is the amount of development happening in the area. Part of the location feasibility would be to anaylse the amount of development that has already been carried out, the style of the development, the density of the developments in the area and future council approvals.

1. Are our suburbs getting over-crowded?
One of the key factors when looking at property is the amount of development
happening in the area.
Part of the location feasibility would be to anaylse the amount of development
that has already been carried out, the style of the development, the density of the
developments in the area and future council approvals.
In many areas around Melbourne, inefficient and poorly thought out planning is
putting suburbs and towns under extra stress. Parking, traffic, public transport
are just some of the amenities that have not been adequately provided for to
cater for such a large and rapid increase.
Roads as well, are under undue stress and are already at full capacity and now
more than ever more drivers are opting to drive through back streets than main
roads, which can affect your enjoyment of lifestyle and potentially the capital
growth.

2. While we may need all this extra housing, particularly if we are going to reach
the expected 25,000,000 people by 2020 in Australia, if our resources don’t cope
then other measures need to be considered, but that is a whole different story.
For now, importantly if you are buying you need to know what has been going on
in the past and what is planned for the future. If you are looking at buying a unit,
apartment or townhouse, how many of these are scheduled for this area or
suburb in the next 5 years or so?
Do you know if the streetscape of where you are buying is likely to dramatically
change over the next few years or are the council putting in measures to protect
that street and that area?
All of these questions above need to be considered and assessed before you
decide to buy a property.
Sometimes this information is not readily available and you have to know where
to search.
If you would like to find out how to avoid common mistakes than so many buyers
make, contact us on 03 9448 2331 or visit our website to find out more
http://www.realassetpropertygroup.com.au/