When it comes to property investing, obviously some factors have a more immediate impact than others. Interest rate changes for instance, can have a very swift effect on the property market. Others, such as demographics, are long-term and can be predicted more easily with the right research. But there are other drivers that only work at a local level, affecting property within a radius of just a few kilometres, or even from one street to the next.
Sometimes local factors can be strong enough to overpower the major national drivers, creating pricing differences that, unless you have an underlying knowledge of the property market in the area, don’t make sense. Such ‘mini’ drivers can include changes to an area’s infrastructure, such as the building of a new road, which might make some areas more accessible but ruin other areas it cuts through. The presence of a good school can also make an area particularly attractive to families.
These localised influences mean anyone who is serious about investing in property needs to do their research before committing to a purchase.
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