Location, location, location is probably the most well-known phrase in real estate.

LOCATION ONE — THE SUBURB

Assessing a suburb and what it offered is the first step to a great location.

A thriving local village with shops, cafes, and services was becoming essential for many buyers. Transport, particularly a train line, was a key requirement, especially in suburbs further from the city. For families, schools were another location must-have, and with townhouse and apartment living on the rise, parks and outdoor spaces were becoming an increasingly important location element.

LOCATION TWO — THE STREET

Getting the suburb right was one step, but a good street is considered just as important. An ideal one might be wide, tree-lined, have a consistent or attractive streetscape, little through traffic, and be easy to access.

LOCATION THREE — THE PROPERTY

The third element of a good location is the position of the dwelling itself. A top-floor front apartment is going to perform better than a ground-floor back apartment that gets headlights shining in or is close to the bins. Upstairs apartments could also offer better views, light and security, while ground floor options could come with a courtyard, meaning more land value.

The way a house was set on a block of land could also make a difference. If a house is well positioned on that block of land, it can feel so much bigger.

Speak to neighbors, go to cafes and speak to people about what makes an area or a street a good one.

Source: realestate.com.au