Times have changed though, and lifestyle locations are making a comeback. Factors impacting the change include :
* advancement of Airbnb
* expansion of our city footprints
* upgrades to roads and transport infrastructure
* first home buyers / bargain hunters choosing lifestyle over lifelong mortgages (ie – priced out of the main cities, they're finding value in beach locations)
* baby boomers finally beginning to move after recovering from any global financial crisis setbacks.
Of course – as always – it is important to select locations that have solid economic and demographic drivers and then choose properties that will match your strategy. But looking at the comparisons below, a case could be made for adding a lifestyle property or two to your portfolio.
Remember to consider commercial properties as well, as you may find opportunities particularly where changing demographics and transport upgrades are driving suburb transformations.
Debra Beck-Mewing is the Founder and CEO of The Property Frontline. She has more than 20 years' experience in buying property Australia-wide, and is skilled in helping buyers use a range of strategies including renovating, granny flats, sub-division and development. Debra is experienced in identifying tailored opportunities, homes and sourcing properties that have multiple uses. She is a Qualified Property Investment Advisor, licensed real estate agent and also holds a Bachelor of Commerce and Master of Business. As a passionate advocate for increasing transparency in the property and wealth industries, Debra is a popular speaker on these topics. She is also an author, podcast host, Editor in Chief of Property Portfolio Magazine and participates on numerous committees including the Property Owners' Association.
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Disclaimer – This information is of a general nature only and does not constitute professional advice. We strongly recommend you seek your own professional advice in relation to your particular circumstances.