When trying to identify the suburb or street you’d like to purchase in, whether it’s personal or for investment (in order to secure returns), you have to go back to basics and find the most desirable regions that accommodate the critical elements of live, work and play. The most desirable locations will be those that generally accommodate a mix of the below “P.I.E”.
It’s as easy as P.I.E – The Rivera Formula
It’s the most critical component in real estate but it’s also important to understand who more than what. Healthy and sustained population growth usually equates to a healthy and prosperous residential property market. An increased population means increased demand and desirability to live in an area. Population growth generally triggers a combination of the following; new supply, employment, lifestyle benefits and proximity to employment.
Infrastructure and investment promotes both population and employment growth. Locations supported by adequate existing and future infrastructure are prime areas for residential development and growth, especially when they coexist within walking distance.
Proximity and accessibility to employment opportunities is key in promoting population growth. New jobs lead to new residents as people seek to minimise travel times and improve their work/life balance.
What makes a great community
1. The location, infrastructure, connection and environment
2. The developer and partners
3. The masterplan and vision of the community
4. Wellbeing and safety
5. What it adds – investment to a suburb region
6. Value for money – diversity in prices