Home loans customers may choose suburbs for investments

Wednesday 16 September 2009

Article by Mozo

People looking for low interest home loans with which to make an investment purchase may be keen to learn about a new study.

Research conducted by St George’s Bank revealed that bargain hunters are more likely to find a cheaper property 11.5 kilometres from the central business district.

The financial centre compiled a list of the 24 most appealing areas in Australia, which included Melbourne districts of Chadstone, Brunswick and Flemington.

According to the institution, these areas offered the best combination of location, amenities and demographic mix, which could be attractive to potential investors, who may take out home loans to purchase a property.

Besa Deda, St George’s Bank chief economist, commented: "Savvy home buyers and investors should look outside the square and consider the areas which have not attracted the same level of attention as traditional blue-ribbon locations."

According to there has been an increase in the number of people buying a property at auction.

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