We have all heard the term ‘hot-spot’ used time and time again, but are there really property hot-spots? It’s a no from me.
Realistically, there is no such thing as a ‘hot-spot’ and if you’re searching for one, you are wasting your time. Although there are many publications who claim to have discovered Australia’s next ‘hot-spot’, it is important to understand that many of these locations are not good for capital growth. Locations that show short-term spurts of price growth, such as mining towns have often been a graveyard for recent investors.
Want to know more about steering clear of bogus ‘hot-spots’, see full story here.