Market prime for investment
Ongoing seller discounting, healthy rental income growth and long term capital gains are just some of the opportunities up for grabs for investors in the current market, according to mortgage broking group Mortgage Choice.
Current market conditions are firmly in favour of property investors, according to the broking group, with data confirming investor interest is ticking upwards.
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According to the Australian Bureau of Statistics, housing finance for investment lending– fixed loans, rose in March for the first time this year, climbing 2.1 per cent.
“The latest data suggests greater movement from investors taking advantage of subdued market competition and housing price reductions,” said Mortgage Choice spokesperson Kristy Sheppard.
“There are many more properties on the market than usual and less buyers to purchase them.”
Australians who are ready financially and keen to crack the market or build onto their existing portfolio may find that some solid hard work could lead to opportune purchases while demand is low, Ms Sheppard said.
“Other encouraging factors are our healthy population and wage growth and low rental vacancy rates. Rents are rising at a faster pace this year while property values have steadied or dropped in many areas, so rental yields are on the increase. This all bodes well for people who research the market thoroughly, have a long-term strategy and are informed about their finance options.”
