Do you think you know the most expensive streets in Australia? Have a quick look at this article by Sam Hutchinson from Smart Investor.
Sam points out that the low propensity of wealthy homeowners in the country’s ritziest streets selling their homes means that in many cities, the dearest streets by numbers are not necessarily
where the city’s most expensive homes are located.
The RP Data study which is based on streets where five homes or more have changed hands in the past year means that top streets with low turnover won’t ever make the cut.
This means that the most expensive streets don’t make the report because properties are not being sold. Families are holding onto them for the long terms.
Interestingly we take the same view on investment property. Build your portfolio one property at a time and hold for the long term.
It is always interesting to look beyond the data for the real story.
If you have a question or would like to know more about property investing I would love to talk to you firstname.lastname@example.org