Properties located in ideal neighbourhoods will always be subjected to greater appreciation than other properties that don’t enjoy similar settings. The amenities available to the residents of an area will always drive the prices up. One may argue that it is difficult to define an ideal suburb but given the lucid preferences of people from various walks of life, it is fairly easy to lay out the amenities that build growth for any property market.
• One of the top priorities of any and all, is transportation. While it is unthinkable of a property market to thrive if there are not enough roads and easy access to highways or transit avenues, what matters more is access to public transport. Rail routes, bus routes and airports, the closer a suburb is to these, the more in demand the properties will be.
• The second priority, mostly for families, is access to education. The ideal situation - there should be good schools in the suburb or at least within a convenient driving distance.
• The next most important amenities are supermarkets, shopping centres and coffee shops. People want to be close to shops. Neighbourhood convenience stores or mom and pop shops may not be aplenty. Having a major supermarket in the suburb or close to the neighbourhood is a key want of most families. There should be a shopping district nearby and there should be enough coffee shops for quick bites and casual hangouts.
• In recent years, Australians have displayed serious fondness for waterfront properties or neighbourhoods that have quick access to water bodies. It could be lakes or the beaches. It is no secret that Aussies love to live close to the sea. Riverfront and lakefront locales have become popular in the last ten to fifteen years.
• While all the aforementioned amenities will drive growth of property prices, there are many others that will influence the level of appreciation. Lifestyle amenities like parks, public pool, convention centres or venues for public events, childcare centres, medical facilities, crèches or kindergartens, the local culture including cafes and restaurants, bars and hotspots would have a serious impact on the price of a property and its subsequent growth.
• Cleanliness, safety and natural landscape including tree lined streets, flora and fauna will also play a decisive role in the appreciation of a given property market.
