Mortgage brokers and economists agree: the Perth real estate market is currently a buyer’s market. At Smartline Rockingham, we agree with that assessment wholeheartedly. Let’s see what the experts have to say regarding both units and single homes.
The supply of units is rising, creating reduced demand and lowering rents. The market is taking a downward turn. However, that is when savvy buyers start to increase their portfolios. While the prices are temporarily low, there are a lot of bargains and opportunities to be had for those who want to buck the current trend.
Gavin Hegney, founding partner and director of the Hegney Property Group, feels that there are plenty of apartments which represent great investments. According to Mr Hegney: “Your best bargains are going to be in the established market.” Mr Hegney recommends looking at units that are one to two years old because of what he calls a “premium” added to new apartments.
He recommends finding a market that is temporarily overbuilt but provides access to amenities because proximity to amenities provides growth potential. He also recommends projecting value over the next ten years as opposed to now. Terry Ryder, a national expert, recommends Mandurah as one of his preferred markets, but could have been talking about Rockingham or Baldivis when he said, “There are still growth markets in Perth.”
Mr Hegney sees houses as an even better investment due to low interest rates and changeover costs. He recommends areas with a lot of infrastructure and prices below median. Baldivis and Rockingham qualify on both counts. Mr Ryder recommends the Rockingham area due to infrastructure, affordability and job opportunities, calling it a “good place to start.”
Call Smartline Rockingham Today
If you are thinking about purchasing an investment property, call Smartline Rockingham today. We can find out your borrowing potential and get you pre-approved for a loan according to your individual financial situation. Call (08) 9527 1800.