When preparing to sell, it’s important that your property looks its very best to ensure you get the price you want. However, sometimes factors completely out of your control may drive up the price that people are willing to pay.
There are some neighbourhood features in particular that tend to attract a high quota of buyers, thus pushing up property values. “Good quality daycare options, schools, cafés and restaurants are in high demand,” says Mark Foy, Principal of Belle Property Surry Hills. “Open spaces like parks are also really important, and I’ve seen property prices in some areas jump as soon as a decent supermarket opens up.”
But the real key, Foy says, is infrastructure.
“People want to live in a neighbourhood that’s easily accessible, and one where they can get to work without too many complications,” he explains. “Things like good public transport links, train stations, roads and bike lanes can make a huge difference to the price people are willing to pay.”
Showing it off
It may seem like making the most of these features is out of the control of the seller, but Foy says that’s not the case. “A really good agent who knows the local area is paramount. They’ll be able to identify which neighbourhood features are likely to attract buyers, highlight them in the marketing campaign, and communicate this information to buyers at viewings,” he says.
But what if your neighbourhood is lacking in these all-important features?
“If an agent is experienced and genuinely knows the area well, they may be able to assuage any concerns a potential buyer might have. For example, there may not be good infrastructure now, but a savvy agent will ensure they are informed about things like new roads or train lines planned for the area,” says Foy. “They should also be able to draw the buyer’s attention to lesser known aspects of the neighbourhood. You never know, one of those may just clinch the deal.”