Diversity is Key to Smart Property Investment
According to leading property investment commentator and author of online portal hotspotting.com.au, Terry Ryder, the one fundamental element that a property investor should seek is diversity.
Ryder stated that the attraction of mining towns for property investors is that they often deliver high capital growth and rental yields, but because the focus of that location in terms of economy and employment is all about mining, they also have the greatest risk.
He maintained that locations that offer diversity - where you can spread the risk because they offer multiple strong economic elements in play - is preferable to somewhere like a mining town, which is driven by scarcity and employment based on a single industry.
The area of Albury-Wodonga is a good example of a property hot spot that offers diversity and solidity while avoiding the volatility of single-industry economies, according to Ryder.
Ryder is of the opinion that Albury-Wodonga ticks all the boxes.
A population that enjoys above average rates of growth, a strategic location with the appeal of a lake and river running through it, and two local councils that are forward-looking and proactive are all benefits to this region.