19/10/2026
Geographic spread is often described as diversification. In a well built portfolio it is usually a by product of something else.
Each asset in a portfolio carries a specific function. One is bought to build equity quickly in a market early in its cycle. Another is weighted toward yield, because cash flow is what allows the rest of the portfolio to be held through a rate cycle. A third might be selected for its block, because the land can carry a second dwelling later.
When assets are chosen by function rather than by postcode, spread happens naturally over five to ten years. Backing the best available opportunity at the time produces a portfolio that looks diversified without ever having been spread for its own sake.
Proximity rarely improves any of these outcomes. A professional property manager handles the operational side regardless of which state the asset sits in.
The properties in a portfolio aren't spread across the country to feel safe. Each one is there because it had a job.
This is general advice only.