When you hear that auction clearance rates were around 80% on the weekend, the majority of the time it means that the best of the bunch is sold. Prime property is always highly sort after, and in most cases strong competition is inevitable. Location is always the key to a properties strong capital growth, and water views and a pontoon to park the boat are always at the top of the list.
Transport is always a major factor when deciding on ones investment, and if you are lucky enough to think ahead and purchase something that is close to a new transport link, say freeway or rail line, the benefits can be huge.
The French's Forest new 300 Bed Hospital was announced a while ago now, and the residents in a 500 metre radius are just waiting to have their houses zoned commercial to capitalise on what will be an estimated 30% capital gain overnight.
Prime property can be location, land size, a character home or a change in zoning, but at the end of the day there is only really about 40% of prime property in the marketplace and you will always have to fight for it.