Regardless of whether you live in the inner city or outer areas, transport is important. The more transport options available in a suburb, the more valuable the suburb will become over time. Easy access to major roads and freeways is a major plus for outer suburbs, because the easier it is to travel to the CBD or other major employment hubs, the better the suburb will be for most buyers.
Enjoying water or CBD views is a major plus for any suburb. In Seaford, Victoria, for example, buying on the beachside of the freeway commands an additional $100,000 more than similar properties on the eastern side of the freeway. The gap between beachside and non-beachside properties is increasing each year, making it more unaffordable for many new homebuyers and investors to get into the beachside market.
Areas that offer lifestyle attractions are favoured by buyers and renters when compared with other suburbs that offer fewer amenities. Walking tracks, large family parks and bushland, creeks, beaches and small community villages all offer unique point of difference.
Most suburbs have preferred pockets. To best understand the suburb you’re exploring, take a map down to the local estate agent’s office and ask them to map out with a highlighter the different ‘pockets’ in order of popularity. In time, the suburb as a whole will gain in value and the less sought after pockets will become more popular, as the preferred pockets rise rapidly in price – but if you can get into a better pocket up front, you should enjoy faster capital growth.