Now is the time to buy if you’re an astute investor, with many sitting back over the coming months, according to a real estate firm.
Real estate firm Raine & Horne said investors should step up their search for the best investment property over this season, as many ease their search.
“Investors typically circle those properties that hit the market a little late in the spring market cycle,” said Raine & Horne’s state franchise manager, Michael Baliveria, pointing to markets within 15km of the CBD as having the best buys for investors.
“Consequently, as activity slows in the run up to Christmas, owners start to realise that they need to adjust price expectations to secure a home sale.”
CEO of Raine & Horne, Angus Raine, agreed with this.
“With interest rates sitting near record lows and rental yields consistently rising in our capital cities, conditions are ripe for a fully-fledged investor assault on Australia’s property markets in the New Year,” Mr Raine said.
If a rate cut is seen in December, this may change the landscape again.
“Investors normally pounce in the immediate post-Christmas period, but they may enter the market earlier if another rate drop occurs in December,” said Larry Gallagher, principal of Raine & Horne North Perth.