Why liveability is a key factor for your investment property

Liveability is that thing we are always looking for when purchasing or renting a property, but we rarely put a name to it. It is one of the most important factors, alongside location, that you should be considering when looking to buy an investment property.

For seven years in a row, Melbourne claimed the “world’s most liveable city” title. But what made it so? It really comes down to the facilities and amenities within easy reach of residents. Shopping centres, cafes, sport, entertainment, education and public transport all come together to enhance the liveability of an area. It is these factors you need to consider when looking at buying an investment property.

We often talk about what tenants want in a home – but we don’t often talk about what they want outside the home. A survey by the Victorian National Parks Association shows that over 50% of Victorians now, following Covid-19 restrictions, value natural areas and parks more.

Let’s take a look at what else makes a suburb liveable.

Wide open spaces

As we mentioned above, more Victorians are looking for, and value, open areas and parks more than ever before. Wyndham is a great area for those looking to live somewhere with green spaces nearby. Home to the Point Cook Coastal Park, Altona Beach, and lots of recreational facilities. Truganina Park, a renowned golf club and even a zoo, creating plenty of space to run around, exercise, or simply relax in nature.

In fact, Wyndham City area has close to 200 parks. The council announced spending over $14 million dollars to upgrade the parks and green spaces.

Growing area

The Wyndham area is quickly growing in popularity. With property prices on the move, now is a good time to invest. What this means for liveability is that facilities start to open up to service the growing population. New shops, schools, leisure centres and public transport routes contribute to this growth.

While some investors will be put off by current market conditions, others will jump into the market. They understand that many tenants will enjoy living in an up and coming area.

Educational facilities

Educational facilities are one of the biggest factors to the liveability of an area, particularly for families. In Point Cook, there are 52 schools in or around the suburb. This gives families plenty of choices when it comes to sending their children to school. In addition to primary and secondary schooling, the Werribee campus of Victoria University is close to Point Cook as is an arm of the University of Melbourne.

Public transport

When looking at purchasing an investment property, choosing an area with a lot of public transport adds to the liveability of your investment. There are plenty of people who would rather leave the car at home and utilising public transport instead. A public transport network that can take residents to a wide range of locations, including the CBD, is always welcome.

What are the benefits of an investment property?

There are plenty of benefits to investing in property, with the most common being that you’ll have an income-producing asset that increases in value year-on-year.

On top of this, you end up with a home (or an additional home) that you can move into at a later date if needed. This is particularly the case with those renting somewhere else, closer to work or family, while renting out their home.

Talk to us

Is Point Cook a good suburb to invest in? It sure is. With plenty of facilities around, now is a great time to buy an investment property. With rental demand high, the team at Established Property is always happy to talk with investors, helping you get the best property to suit your investment portfolio. Securing and managing rental homes takes financial smarts and great organisational skills. Our expert property management team can appraise your investment property or help you to find ways to increase the rentability of your home.