Investing in property in Bexley can involve a lot of homework. You will need to make sure that your real estate is going to deliver the level of returns you're expecting and that your finances won't be jeopardised.
The good news at the moment is that Sydney continues to lead the pack when it comes to investment returns. The May CoreLogic RP Data Hedonic Home Values Index showed that property prices in the New South Wales capital have increased both quarterly and year on year.
Compared to May 2014, values in the city are now 15 per cent higher and are 3.3 per cent above the level seen three months ago. As a result, the median dwelling price stands at $752,000, although this will vary depending on the suburb you're considering investing in.
CoreLogic RP Data head of research Tim Lawless suggested that investors think carefully about the type of property they are hoping to buy. Unit values are struggling in the Harbour City at the moment, with detached properties witnessing some of the greatest rises.
"The higher supply levels are likely to be a primary reason why unit values are rising at a much slower pace than house values in Sydney and Melbourne," said Mr Lawless.
"The pace of growth in unit values across Sydney is about half that being recorded across the detached housing sector, with house values up 16.4 per cent over the year compared with an 8.8 per cent rise in unit values."
Analysis of official construction data by the Housing Industry Association also recently pointed to strength in the detached property building sector. In fact, the group claimed that detached housing approvals had reached a five-year high in April, with 214,331 projects recorded in the 12 months leading to this date.