A sector is a broad category of property that is defined by its use or location. For example, the residential sector includes houses, apartments, and townhouses. The commercial sector includes office buildings, retail spaces, and industrial properties.
Sectors are important to consider when doing property research because they can have a significant impact on the value of a property. For example, a property in a high-demand sector is likely to be more valuable than a property in a low-demand sector.
Here are some examples of sectors in Australian English:
- Residential: This sector includes houses, apartments, and townhouses.
- Commercial: This sector includes office buildings, retail spaces, and industrial properties.
- Industrial: This sector includes warehouses, factories, and other industrial properties.
- Development: This sector includes properties that are being developed or redeveloped.
Property investors can choose to invest in any of these sectors, depending on their individual goals and risk tolerance.
Here are some additional terms that you might come across in the context of property sectors:
- Sub-sector: A sub-sector is a smaller category of property that is within a larger sector. For example, the residential sector can be further divided into sub-sectors such as detached houses, semi-detached houses, and apartments.
- Market: A market is a specific area or region where properties are bought and sold. For example, the Sydney market is the market for properties in the city of Sydney.