They’re the stalwarts; locales that have historically risen above the vicissitudes of the property market and where – provided you buy wisely – you should be able to ride out any downturn.
Property experts say such blue-chip suburbs are typically located close to the CBD – generally within 15 kilometres – and offer good and consistent quality housing stock, often period homes or flats, in wide, tree-lined streets.
Other factors that set blue-chip suburbs apart include their access to public transport and shopping. And the schools, the prestigious schools.
The reason certain suburbs hold their value well comes back to the fundamentals of the economic laws of supply and demand.
There’s limited supply – that equals high prices or increasing prices.
It is vital to make the “right property choice” even within blue-chip suburbs.
This is critical and this is where a lot of people come unstuck; they might choose the right suburb but they make the wrong choice of property.
Cheers!!!
