Best buys in 2022
It is the perennial question I get asked on radio, at forums or in my office: What is the best type of property to buy?
The honest answer is, the same types I’ve been buying for a decade. But some years, things change and a new option pops up as a great investment.
2022 is such a year – so let’s take a deep dive into this year’s best buys.
These are not on the list.
Firstly, a quick diversion into what you shouldn’t be buying.
We’ve seen a staggering amount of high-rise units sprout across Melbourne with investors lured in by the promise of stamp duty savings.
Don’t be fooled, they’re duds.
There’s also been a jump in budget built homes in fringe suburbs. For any number of reasons (oversupply, the most prominent) these are also duds.
Work from Home.
Not quite a decade ago, some of the better developers trialled houses and townhouses with dedicated home offices.
These didn’t catch on but in 2022, they’ve found their mark. In short supply and high demand, these are gems if they’re in the right locations,
Ditto four bedroom houses where the extra room can be turned into an office.
You beaut three bedder.
Regulars will know I’ve been banging on about the opportunity presented by three bedroom houses on decent blocks for a decade.
And what a little goldmine they’ve been! The best performers are in established, middle ring locations close to transport and with high amenity and street appeal.
Buy-ability:
Affordability is emerging as a key criterion, and this will intensify in 2022. That doesn’t mean cheap; investors should be looking at the price bracket $650,000 - $1.1 million
Also, likely to do well:
In the 1960s and 1970s, brick apartments sprouted across Melbourne’s inner suburbs before more stringent planning controls put a stop to it.
This left many complexes marooned in once working class neighbourhoods which now have high amenity.
Look for two bedroom apartments with a balcony or outdoor area, car space, great aspects and living space, and you’ll be onto a winner.
Townhouses in inner- middle suburbs with an outdoor space and close to transport also look like they’re positioned to do well.
Moving to the country
You will have read that everyone is leaving the cities and going bush. but the actual numbers tell a different story
I expect many country boltholes to drift back into obscurity, but for regional cities, expect the fun to continue.
Major centres like Ballarat and Geelong should continue to do well, along with prime coastal areas on the Mornington Peninsula and Surf Coast.
Author; Miriam Sandkuhler
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