When it comes to buying real estate, one of the most important things you need to take into account is the location. You want to be close to conveniences like train stations and highways, right? Well, according to recent data, that may not be the best idea. The data shows that only a small percentage of Australians catch the train to work, so you're likely not going to have as many potential buyers as you think. If you're looking for an investment property, train stations may not be your best bet!
What does this mean for investors?
Investors looking for property may want to think twice before purchasing a home near a train station. While properties in these locations can be cheaper, they generally have less interest from potential buyers. This is because many people are put off by the noise and disruption of living near a train line. As a result, investors may find it difficult to sell their property or may have to accept a lower price. Before buying, investors should consider whether the reduced price is worth the extra hassle. In many cases, it may be better to look for property further away from the train station.
But wait, you were always told to buy near a train station?
The myth about buying near train stations is perpetuated by those who want to sell you an over-priced property. They'll tell you that the train station is the perfect location for your new home or investment property because of the convenience factor. But what they're not telling you is that train stations aren't as popular as they used to be. In fact, according to recent data, only a small percentage of Australians catch the train to work. So if you're looking for an investment property, train stations may not be your best bet!
But people catch the train to work?
If you're still not convinced, consider this: according to the 2011 and 2016 censuses, the number of Australians catching the train to work has actually decreased over time. In 2011, only 4.4% of Australians caught the train to work, and by 2016, that number had decreased to 5.1%. . That's a significant drop, and it's likely that the trend will continue. So if you're thinking about buying near a train station, you may want to reconsider. That's only a 0.6% increase over a five year period! This means that only 5.1% of the population catch the train to work across Australia.
But it's next to amenities correct?
It's not just the train station that you need to worry about. Buying near any amenity comes with its own set of risks. Take, for example, the new apartment complex that's being built next to the local grocery store. Sure, it's convenient to be able to walk to the store, but what happens when the store decides to close? You're left with an empty building and a drop in property value. So even though it may be convenient to buy near amenities, it's not always the best idea from an investment standpoint.
So at what point should I buy near public transport?
For investors looking to buy a property, one of the key considerations is always how far the property is from public transport. After all, good transportation access is one of the key factors that can affect rental prices and demand. But just how far should investors aim to be from train stations and other public transport hubs?
Generally speaking, investors should look to be within walking distance of a public transport hub. This ensures that the property will be attractive to a wide range of potential tenants, as there will be good access to transport links. For example, a property that is a 10-minute walk from a public transport hub is likely to be more popular than one that is a 20-minute walk away. Additionally, properties that are close to public transport are often easier to rent out and command higher rents. So for investors looking to buy a property, being close to public transport is always a good idea. It can help to ensure high rental demand and prices, making the investment more profitable in the long run.
There are plenty of other locations that are more popular with buyers, so why tie yourself down to a train station? The data is clear: train stations aren't as popular as they used to be. If you're looking for an investment property, there are better options out there!
Conclusion paragraph: I’m glad we could clear up this misconception for you. Now that you know the truth, you can go out and buy your dream home without having to worry about being too close to a train station. As always, we love hearing your thoughts on the blog – feel free to comment below. And if you’re looking for more information about property investment or are ready to start your search for a new home, be sure to check out our website. Thank you for reading!
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