According to a recent study by a leading mortgage company, many investors believe they made a smart investment choice with their purchases.
New data gathered by Mortgage Choice shows that 94.4 per cent of Australian landlords were happy with their investment property purchase.
“I’m not surprised to hear that more than 90 per cent of Australian property investors are happy with their investment purchase,” Mortgage Choice chief executive officer John Flavell said.
“Over the years, property has proven itself to be a very lucrative and safe asset class. Recent research conducted by CoreLogic found property prices rose 10.9 per cent across the combined capital cities over the 12 months to January,” said Mr Flavell.
“When you combine this impressive price growth with the fact that both vacancy rates and interest rates continue to sit at historical lows, it is little wonder why so many Australians perceive property investment as a savvy financial decision,” he said.
Those investors who employed a buy and hold strategy were most likely to do well in their investment, and therefore feel happy about the purchase, said Mr Flavell.
“At the end of the day, no one has a crystal ball and we cannot know what will happen in the future. That said, one thing we know for sure is that property has time and time again proven itself to be a lucrative asset,” he said.
Those investors who seek out information from reputable sources, or their financial team, are less likely to regret purchases later than those who take hearsay information from friends or family.
“Big financial decisions, like buying property, shouldn’t be solely based on what your friends and family are telling you, they should be based on knowledge, research, and due diligence,” said Mr Flavell.