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Location Is King For Property

By Jamil Allouche

When it comes to searching for a house, many factors come into play, such as price, location, size, its general condition and more.

But according to a media statement from Slater and Gordon, released on September 17, location is still the most important factor for Australians looking for a home. Specifically, being close to schools, work and public transport links were the three most important factors in the hunt for a property.

Surprisingly, the condition of the house was ranked as the least important factor, so there's no need to race to renovate your well-placed property in Brunswick.

"There has always been consensus that a property in good condition was more likely to sell, but this research suggests people are more likely to look past that," said Slater and Gordon General Manager Personal Legal Services, Lee Bailie.

"It’s also possibly reflective of the renovating trend we are seeing.  People are buying with an eye to putting their own stamp on the property anyway."

Mr Bailie said that while this shows that location is king, sellers should always strive to show their property in the best possible light, even if it's not the most important factor in a purchasing decision.

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