Couple just bought new houseAustralia has a wide range of residential properties to choose from. From coastal and rural, to town houses and apartments, your options are endless. This is where property development companies come in. They can help you in sorting out which type of property best suits your needs and fancy. Consultants from these companies can give you helpful advice, such as these:

Prioritise familiar markets

You don’t always have to look far to find something good. Start your search with areas you’re most familiar with. This is especially important if you do not have a lot of time for research.

Look for growth suburbs

If you plan to buy property not only to have your own home but to potentially acquire capital gains, investing in growth suburbs is your best bet, says the property management experts at Equire. Growth suburbs are areas which are due for rapid development, as per expert prognosis.

Look for high rental yield areas

Rental yield refers to the price correlation between property value and rent prices. If you are investing, areas where rent is higher than property value would eventually mean capital gain for you.

Look for low-vacancy rate areas

Areas with high vacancy rates are real estate red flags. You should steer clear of these areas, especially if you’re planning to rent out or resell your property in the future.

Research city/suburban planning

Future changes in any area will affect the prices of properties in it. This is why before purchasing property you must research as much as you can on how the area will look like ten or twenty years into the future.

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If you have the capital to spend and commitment to spare, residential property investment should be no cause of concern for you. These are the only things you actually need to carry out this decision and to make it work. So breathe in, breathe out, and enjoy the fruit of your labour.