Buyer interest in $1m properties soars
The low cost of debt and high household savings are enabling Australians to buy more expensive properties, new research ...
It’s not easy to find a gem in today’s market, especially one that is affordable and a sensible investment, but one agent believes Adelaide is the place to look if you want to make a well-rounded investment.
Today’s property market is challenging and competitive as more and more buyers prepare to cash out on property, but Adelaide has stood out as the city with “everything”, a buyer’s agent has said.
Investors Dream director Sanjeev Sah believes Adelaide is the place to be, because it has essentially “got everything” – from beaches and lifestyle locations to city living.
But Adelaide is not just a pretty face, in fact its long-term growth is underpinned by increasing demand on the back of flexible work arrangements, affordability, new housing construction, infrastructure and government funding, Mr Sah said.
“It’s still good, affordable. You can buy something up to $450,000 … and you can add value.
“And there are good plans for infrastructure and funding … and I see a good lifestyle. Things are progressing. It’s positive cash flow properties, too … Once more funding and infrastructure is going, then those $400,000 will become $500,000 easily,” the agent opined.
Suburbs in the Onkaparinga area such as Christies Beach and , in particular, offer property investors fairly solid value.
“Whatever you look for as a fundamental of property investing, it's there. You can’t go wrong at being in Adelaide,” Mr Sah said.
Across the other states and territories, these fundamentals can also be found in NSW’s Albury and Wagga and Queensland’s Toowoomba, he added.
Navigating a competitive market
Being smart, he believes, includes working with a trustworthy property professionals to maximise your opportunities in the market and minimise risk.
Apart from having more options, investors can also rest easy knowing that the property being presented to them is of high quality.
Smart Property Investment’s Phil Tarrant agreed, noting the benefits of being top of mind for an agent when a good property hits the market.
“For the property investor, if you’re not using a buyer’s agent, you have to make sure that you have the same capabilities that a buyer’s agent would have in order to track down those best possible deals.
“You need to know the market you’re buying within and you’ve got to have the soft skills and the hard skills to be able to look at data and analyze it.
“[Or] you can build a relationship with them, and when there’s trust in the relationship, a lot more becomes available,” Mr Tarrant concluded.