Brighton - A Great Suburb to Live or Invest In - Here's Why:
Well-known and independent property consultants, Charter Keck Cramer*, recently prepared a report about the residential property market in Brighton.
The information presented in the report provides compelling evidence to suggest that investing in property at Baymarque will be a well founded strategy in terms of both capital growth and rental returns.
Charter Keck Cramer believe the “shortage of supply of contemporary townhouses, coupled with the expected strong growth in rental rates, will underpin moderate price growth in the short term and stronger growth over the medium-term.” These factors, combined with the unparalleled range of entertainment, lifestyle and transport options in Brighton and the contemporary design response for Baymarque ensure a Baymarque townhouse is an intelligent investment choice.
The research highlights some reasons why Brighton is a great place to own a townhouse - as either an owner occupier or investor:
1. Brighton enjoys the benefits of close proximity
to:
a. A range of popular retail activity centres
(Bay Street, Church Street).
b. A large public transport network (trams,
trains, buses).
c. Enhanced opportunities for work, retail,
leisure, lifestyle, health and community
services in the CBD (just 10 km to the
North) and Bayside areas.
2. Brighton residents are high income earners.
3. There have been few townhouses completed in
Brighton since 1990.
4. Unit prices (including townhouses and
apartments) in Brighton have increased at an
average annual rate of 10% since 1997.
According to the REIV, the median house price
in Brighton is $1.6m (March '07).
5. Across Melbourne, vacancy rates are at historic
lows.
Why Invest in Property Now?
We have seen a dramatic strengthening in the residential markets in the last 6 months. Whilst it can be said property prices are starting to rise off the zero growth period we have experienced over the last several years, we anticipate that this is just the start of a stronger period of capital and rental growth. The good news for purchasers who wish to buy in the short term is that the herd has not come back into the market yet, so there is plenty of room for growth.
Hamton's recommendation in terms of buying now, as always, is to buy in undersupplied areas that attract wealthy tenants and have great amenity nearby (particularly public transport, schools and shops). We suggest that property selection should be based on a series of sound fundamental criteria.
Our Suggested Criteria Follows:
1. Location (Proximity to places where people want to live, work and play).
2. Well priced.
3. Low vacancy, high rental returns.
4. High income base of people living in the area.
5. Little competing supply.
6. Leading edge design by recognised architects.
7. Small to medium sized project.
8. Reputable developer and builder.
*Charter Keck Cramer did not undertake a project-specific analysis of Baymarque and it does not necessarily endorse this project at the exclusion of other projects
