Capital cities may traditionally have captured the attention of investors, but it could be real estate in Eaton and other parts of the country that thrives in 2016.
Results of the December CoreLogic RP Data Home Value Index reveal the extent of price drops across the nation's capitals, with Melbourne and Sydney even struggling at the close of 2015. This could create future financial concerns, as identified by RP Data's head of research Tim Lawless.
He explained that these markets have suffered from affordability pressures, as well as external factors such as measures to restrict investor lending introduced by the Australia Prudential Regulation Authority.
Declining house prices mean homeowners have seen the value of their wealth decline, which could have a far-reaching impact, especially for investors.
"Added to this is higher mortgage rates and more restrictive credit policies and loan servicing requirements," Mr Lawless noted.
The most pronounced monthly decline in housing values was seen in Adelaide, where property prices were down 1.5 per cent from November levels. In second place was Sydney, where a 1.2 per cent fall was registered.
Property value fluctuations are just one aspect you'll need to look into whenever you buy a home. A stable local market can offer reassurance, especially if it's your first investment.
Vacancy rates are also well worth a look if you're buying rental property in Eaton. Even the most popular locations can be subject to fluctuations, which is why there's no substitute for doing your homework.
SQM Research revealed that in November 2015, 1.7 per cent of homes in Sydney were without tenants, up 0.1 per cent from the previous month. Perth's vacancy rate was also up 0.1 per cent month on month.
Enlisting the help of an experienced real estate agent can be a real advantage when buying real estate in Eaton. We can guide you through the local area and find a property that fits in with your goals.