{"id":13413,"date":"2017-08-23T01:00:20","date_gmt":"2017-08-22T15:00:20","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=13413"},"modified":"2017-08-23T01:00:20","modified_gmt":"2017-08-22T15:00:20","slug":"spotting-a-hot-spot-before-its-hot-shannon-davis","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/spotting-a-hot-spot-before-its-hot-shannon-davis\/","title":{"rendered":"Spotting a hot spot before its hot &#8211; Shannon Davis"},"content":{"rendered":"<p>The frustration with hot spots is that by the time you find out about it \u2013 it has peaked.\u00a0 <strong>Shannon Davis<\/strong> gives us an insight about discovering a hot spot before it becomes hot.<br \/>\n<strong>Transcript:\u00a0<\/strong><br \/>\n<strong>Kevin:\u00a0 <\/strong>Let\u2019s have a look now at the indicators that a suburb or an area is about to grow. I don\u2019t want to talk about hot spotting, because we talk about it and people love to get there before it happens, but by the time we all get there, it has already happened and it\u2019s over and it\u2019s peaked.<br \/>\nBut let\u2019s wind the clock back a little bit, Shannon. What are some of the indicators that in six to twelve months\u2019 time, or even two years\u2019 time, some suburb could become gentrified?<br \/>\n<strong>Shannon:\u00a0 <\/strong>I like to see the renovation count. I like to see people having confidence to put more money into that area and perhaps not move, but extend, improve, renovate. I think that\u2019s a big thing. I think you also look at the type of cars. What I\u2019m looking for is the demographics and disposable income. Maybe European cars, and putting that upwardly mobile spot. We like niche shops such as organic food and veg or butchers or farmer\u2019s markets.<br \/>\n<strong>Kevin:\u00a0 <\/strong>Trendy caf\u00e9s?<br \/>\n<strong>Shannon:\u00a0 <\/strong>Yes, another sign of disposable income, and we want that as a larger proportion. So, we look at weekly family incomes to the area. We do a lot of study on demographics. Australians tend to spend on housing up to 55. That\u2019s the cap off on money that a household will spend. And then after 55, it starts to come down, so you get to downsizing and that effect going on.<br \/>\nSo, young families moving into an area, perhaps buying deceased estates and turning those properties over and renovating, that\u2019s a good sign as well because they\u2019re still spending a great proportion of their family income into the housing. So, we\u2019re looking for all those types of things.<br \/>\nIt\u2019s the owner-occupiers who drive the market. When you invest, try not to think like an investor. Most investors are going to be attracted to new property for the tax deductions and things like that. But we\u2019re looking for the owner-occupiers because they buy emotionally and they improve their properties. They\u2019re a little bit more house-proud, and that\u2019s what\u2019s good for the area.<br \/>\n<strong>Kevin:\u00a0 <\/strong>Yes, those improvements do actually drive prices up, don\u2019t they? It\u2019s heart-warming to see you buy into an area, and then all of a sudden, not so much unit development \u2013 especially not unit development \u2013 but you see houses being improved, renovated, even splitters, a house being moved sideways and another one put on beside it.<br \/>\n<strong>Shannon:\u00a0 <\/strong>You see some of those suburbs where they\u2019re spending $700,000 to knock over a post-war house, get a 607 block sort of thing and get a contemporary build where they\u2019re looking to spend, say, 2500 square meters on the build. That ends up being a $1.5 million property.<br \/>\nIf you have good schools, green space, and a high street with caf\u00e9s, you\u2019re halfway there, and that\u2019s a good sign of an area that\u2019s gentrified or on the way to being.<br \/>\n<strong>Kevin:\u00a0 <\/strong>Yes. Another indicator for me too \u2013 and you touched on this \u2013 is what\u2019s happening in the area. But some of the really good caf\u00e9 operators will look at the demographic of an area, look for a niche need.<br \/>\n<strong>Shannon:\u00a0 <\/strong>I also think real estate agents play a big part. I\u2019m not talking about the real estate agents who just want to sell you a house and get it over and done with; they\u2019re transactional. I\u2019m talking about the elite in our industry who actually want to push for the highest dollar, set records, and make a street precedent and things like that.<br \/>\nSo, in those really high areas, you have some really good agents who are setting records all the time, and I don\u2019t think it\u2019s all to do with the area; I think it\u2019s actually having the industry elite pushing up prices doing well for an area as well.<br \/>\n<strong>Kevin:\u00a0 <\/strong>So, you could do a lot worse if you are looking at selling a property than to ask the property agent to demonstrate how well they negotiate and what are some of their sales? Because agents will always tell you about other agents\u2019 sales, but ask them about their own sales as well, see how good a negotiator they are.<br \/>\n&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The frustration with hot spots is that by the time you find out about it \u2013 it has peaked.\u00a0 Shannon Davis gives us an insight about discovering a hot spot before it becomes hot. Transcript:\u00a0 Kevin:\u00a0 Let\u2019s have a look now at the indicators that&#8230;<\/p>\n","protected":false},"author":176692471,"featured_media":14643,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[6,32,10,11,13,36,22,25,27],"tags":[70,101],"class_list":["post-13413","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buy-in-brisbane","category-buying-a-property-topic","category-kevin-turner-sponsored-channels","category-kevin-update","category-latest-story","category-property-investment-topic","category-research-topic","category-sponsored-channels","category-trends-topic","tag-featured","tag-podcast"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Spotting a hot spot before its hot - Shannon Davis - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/spotting-a-hot-spot-before-its-hot-shannon-davis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Spotting a hot spot before its hot - Shannon Davis - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"The frustration with hot spots is that by the time you find out about it \u2013 it has peaked.\u00a0 Shannon Davis gives us an insight about discovering a hot spot before it becomes hot. 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