Property is booming everywhere, everyone is buying, and you need to be quick, or you’ll miss out!
Sound familiar?
Well though it is true, and many are making an eye-watering amount of money is such a short amount of time, it’s not a get rich quick scheme and you need to be aware of how the market works before diving in and having unrealistic expectations.
Despite new figures from CoreLogic showing housing values in regional Australian have increased by 13% in the last 12 months to April (compared to 6.4% for capital cities), experts are warning that throwing money at these homes are not a guaranteed investment winner.
Buyer’s Agent, Kate Hill from Adviseable Property said, “clearly pent-up demand and a number of other factors, including record-low interest rates, are motivating more investors to buy in markets near and far, but the fundamentals must stack up over the long term as a strategic investment location”.
With ABS internal migration data showing a record-breaking 43,000 Australians moved away from capital cities to the country throughout 2020, Ms. Hill that only time will tell.
“Some investors might be considering these short-term migration patterns, as well as the current robust price growth, as justification for buying into regional areas.”
“But, in a year or two, they may be left with an investment property in a location where many residents have already reversed their decision-making and gone back to the city. Just because a place has a few months of price growth and property prices seem affordable, doesn’t make it a sound investment location.”
So, what do you do?
First step is to find a team and experts who you feel comfortable with and who have proven consistent results over several years. Ask for examples of their work, look at what their clients have said then tell them what you want to achieve, which is what we do!
Our goal is to help as many people as possible, create a future of financial freedom for themselves and their loved ones so get in contact on 1300 522 562 or email team@jrprosperity.com.au
When considering an investment property with positive cashflow, it is important to make sure it is suitable to your specific financial goals and objectives. Remember to do you due diligence and is you need advice, JR Prosperity Partners can help you decide if this is the best strategy for you.
