FAR REACHING CHANGES have been quietly taking place in Australia's urban landscape since the mid 1990s. The way Australians live, work and play has been changing dramatically, and the impact of this upon our property and accommodation requirements is significant. Investors who understand these changes and buy property with an eye to the future, rather than looking over their shoulder and seeing what worked in the past, will reap the rewards.
In monitoring these changes we utilise the data and services from a range of independent experts including:
- property valuation practices for assistance in confirming appropriate pricing as well as their extensive market research and knowledge, particularly Charter Keck Cramer (www.charterkc.com.au) who have a strong focus on research and analysis;
- The Australian Bureau of Statistics for the latest macroeconomic data for the building industry, economic indicators and demographic trends;
- various Victorian Government departments such as the Department of Sustainability & Environment (www.dse.vic.gov.au) and the Department of Infrastructure (www.doi.vic.gov.au) for the latest data on property and demographic trends;
- BIS Shrapnel Economic Forecasters in order to gauge macroeconomic trends and predictions for the building industry and the economy in general;
- Real Estate Institute of Victoria (www.reiv.com.au) and the Real Estate Institute of Australia (www.reia.com.au) for the latest data on property sales, vacancy rates and other industry-related information;
- frequent and regular communication with other industry participants such as bankers, builders, valuers, quantity surveyors, developers, accountants, lawyers, real estate agents and property managers