Last year may have changed the way we do a lot of things.
One thing has remained the same: buying the right property at the right price remains a solid long-term investment for you and your family.
Whether it is a property to live in or as an investment, now is a great time to take that all important first step. Interest rates are extraordinarily low and appear to remain so for some time and the property market is tipped to be red hot this year.
Here is a snapshot of what is happening overall in the property market:
- First-home buyer activity is at record levels, stimulated in recent months due to the low-interest rates and government stimulus.
- A shift to what has been labelled the ‘exodus to affordable lifestyle’ resulting in regional housing value rising at twice the pace of capital city markets.
- House values have risen by 3.5% over the past six months while unit values are unchanged, according to CoreLogic February 2021 research.
- According to CoreLogic, every capital city witnessed a rise in housing values in February 2021, reaching a new record high as values continue to rise across the country.
- Rental vacancy rates are at an all-time low in many areas (except for some inner-city units), which are putting pressure on increasing rents.
So how do you buy the ‘right property’ in 2021?
- Formulate a plan: understand what you want to achieve and then make decisions accordingly – buying property should be a long-term investment.
- Be cautious: you’ll find everyone is going to give you advice. Rather than listening to well-meaning friends, it’s important to only listen to people who have achieved the success you are looking for.
- Research, research, research: mortgage rates, the area you want to buy and who to build with – please don’t go and buy the first property you see!
- Focus on what matters: Glossy brochures and the latest interior design trends are nice but investigate your builder’s structural quality and financials. Not everything that glistens is gold!
- Gather an independent team of experts: Conveyancer, mortgage brokers, developers, builders – there are a lot of moving parts in the process.
Now is the time to take action and set yourself up for the opportunities that will present themselves in 2021 – the market will move on!
If you want to build your property portfolio or take the first step into the market, the Triple Zero Property team can guide you to make smart decisions for you and your families’ future.
With no cost to you, we work to get the best result in a highly competitive property market.
In the current growth focused market anyone can make money through purchasing property, however, at Triple Zero Property we want to future-proof your investment and maximise your cashflow. Call 1300 897 000 so we can help you meet your property investment goals for 2021.
This content is general information only. Your situation is specific and individual; as such, you should always consult a registered and qualified professional within the particular area of advice needed.