What You Should Do Before Buying Your First Investment Property
Buying your first investment property may seem daunting—it’s a major financial commitment after all. However, if done right, it can be the start of a property investment journey towards a more financially secure future. Lending policies may be getting tighter, but house prices are also set to pick up. According to Business Insider, home prices in Australia fell faster and in more locations during the month of July. CoreLogic’s Hedonic Home Value Index reveals that the median home price fell 0.6% in June, which was the largest percentage decrease in nearly seven years. While this may not appear lucrative for those looking to experience fast financial gain, it could still be profitable in relation to long-term investment success. Though lending restrictions have become tighter, there are three good reasons to buy investment property now.
- Population numbers are surging in the east coast capitals, which in turn, is driving the market. The growth rates of Sydney and Brisbane are at 2%, and Melbourne’s is at 2.7%.
- The Reserve bank of Australia is expected to keep interest rates low at least until 2020.
- If you do proper research, you’ll discover that there are areas which show strong capital growth potential, such as these suburbs within capital cities. We at Calla Property will pinpoint these locations for you, based on our research-driven Calla Property Insights. Our team researches 550 markets all across the country to help you find the best location for your investment strategy.