Investing in property is a tricky business that has no hard and fast rules. Bryce Holdaway and Ben Kingsley, authors of new book Make Money Simple Again, shared how potential investors, especially younger couples who don't have huge deposits and incomes at their disposal, can get ahead in the property market.

Holdaway and Kingsley emphasised the importance of spending one’s money wisely. Directing funds to ventures that allow money to grow even more is always a good idea.

“’Money makes money’ when we put it to work for us, whether is earning interest, or in the case of an investment property, helping us control a larger value asset that over the long term will appreciate and provide us with a capital return and a passive income via the rent it produces,” they said.

Secondly, self-awareness is a key to victory. People are advised to enter related deals only if they are ready. “If you are not settled in life and you are looking for a quick return, then may we suggest you pass on the whole property investment thing for now. If, on the other hand, life is ‘settled’ for you and you are confident in life and work, and you can lift your eye to other opportunities, like property investing, then now might the as good a time as any,” Holdaway and Kingsley said.

Additionally, investors must to be smart to pick a location that can generate the most gains. The land drives the value of all property.  Land that’s in demand and a dwelling style that can accommodate multiple buyers are usually top of mind when it comes to decisions such as this.

For the supply side, Holdaway and Kingsley have this to say: “Avoid areas with lots of future lands that can accommodate more supply and add medium and high-density apartments to this list as well, as the can easily be oversupplied in the future. A great investment starts from buying well in the first instance.”

Investors should also not overlook the interest of the buyers and take the necessary steps to understand the market demand.

 “There are many ways you can measure this; some include data such as auction clearance rates, days on market, stock on market, average vendor discount,” they said. “On the supply side, we are talking about newly approved subdivisions or apartment developments.  Remember, supply is the enemy of value; too much of it means values can decline.  When it comes to the property’s appeal, looks for character, charm and the overall liveability of the property.”

The duo’s final advice?  As much as possible, go for residential property investments. “If you want strong buyer interest from all buying quarters, looking for niche types of investments aren’t usually great longer-term investments. Residential property is an essential need for us all; student accommodation, holiday or serviced apartments are not,” Holdaway and Kingsley said.