While there are plenty of negative news reports about Perth’s property market, it’s time to report the good news.
The quiet property market actually provides positive opportunities for potential investors and tenants because it offers more choices, less competition and more room to negotiate.
With more properties available, buyers can take their time and assess all their options to find a property that ticks the right boxes – for both their investment and their tenants.
Broaden your horizon
It pays to expand your scope and hunt around suburbs you may not’ve originally considered to find suburbs that are consistently performing well.
According to Domain Group’s House Price Report for September 2016, Lakelands and Doubleview are two examples of suburbs that are enjoying strong quarterly growth.
Located 65 kilometres from Perth’s CBD, Lakelands was the only suburb to register a median price increase in the September quarter. While, Doubleview, in Perth’s north-west, showed a positive increase in prices in the last six months.
While population growth has slowed, Perth is still continuing to grow at the fastest rate of all Australian capital cities. And despite the current ‘correction’ that appears to be taking place in Perth’s real estate market, it is not likely to decline in the long term. And that’s what property investment is about – you have to commit to the long haul.
Time in the market
It is no surprise that interstate and overseas buyers are looking to capitalise on Perth property prices. However, regardless of the market, it’s important for investors to realise that successful investing in real estate is not about timing the market, but time in the market.
If you do your homework, and purchase an investment property in a location that both appeals to tenants and has strong growth drivers, you can be confident in your investment no matter the state of the real estate market.
So, if you’re starting to think about how to capitalise on Perth’s property market, why not complete our Getting Started form to get the ball rolling.
Or, if you’d like to learn more about property investment, why not read our free eBook, GET READY TO INVEST – your 5-step guide to strategic property investment.
It takes you through five simple steps to help you understand strategic property investment and how to make it work for you.
You will learn how to:
- CREATE YOUR WEALTH PLAN & INVESTMENT STRATEGY
- ASSESS YOUR FINANCIAL POSITION & FIND THE RIGHT LOAN
- RESEARCH THE MARKET & CREATE A SHORTLIST
- MINIMISE RISK & CONDUCT DUE DILIGENCE
- ADD VALUE TO INCREASE RETURNS
It will then give you a few insights into GETTING STARTED.
So if you’re ready to learn some great insights into getting started in property investment, download your free Get Ready to Invest in Property eBook here.