Invest Before The End of the Financial Year
If you are thinking about investing in the Perth property market now is the time to do so. Rents are at record highs, the demand for rentals is every growing giving you a great opportunity to lock in a great term long term at a premium rental figure.
The best places to invest are in areas with high population growth near transport especially train stations and need amenities such as schools and shops. One such great investment opportunity is 15 Jedburgh Loop, Sinagra which is renting out for $400 per week and is on the market for $345-$355,000 giving a great rental return. You can see more information here:
Looking for a Great Investment?
The rental market in Perth is booming. Rental returns are at record highs and the vacancy rate for rentals is almost zero. We are finding that every rental we have put on the market rents out straight away and has up to 15 qualified people wanting to rent it. There really is a rental shortage. Add to this the fact that prices are depressed and rental returns are high. So if you are thinking of purchasing a rental property now is the time to do so.
I have 2 great investment properties:
7 Kelso Close, Sinagra. http://reiwa.com.au/Buy/Pages/More-info.aspx?SearchType=RESSALE&prop_no=2&listingid=10150558&listingno=3151403&puid=findagent
$339,000. Current rent is $370 per week but could be raised to $400 a week.
15 Jedburgh Loop, Sinagra. http://reiwa.com.au/Buy/Pages/More-info.aspx?SearchType=RESSALE&prop_no=5&listingid=10144766&listingno=3145594&puid=findagent
$345-$355,000. In the same complex and getting $400 per week.
If you wish to be updated on other great investments feel free to contact me or send me an email
Investors Out in Force
A recent survey conducted in Perth has shown that despite the slowing property market investors are out in force. The survey showed that 51% of property purchases in the last 12 months were for investment. This is above the national average of 31.5%.
Negative Gearing Unfair?
According to some economists negative gearing is an unfair complexity in the tax system that allows people to pay less tax and adds nothing to the housing supply. $4.5 billion a year is lost every year in negative gearing allow more people to borrow more and hence pay more interest. This not affect the housing supply as 90% of people who negatively gear purchase established properties rather than new ones.
Negative gearing effectively allows more to purchase property and hence creates more competition amongst property buyers and hence creates an upward pressure on prices. There are calls from people to either have it banned or limited to lower incomes earners or only those who new properties.
What do you think?
Warning for Renovators: Be Prepared
Prospective home renovators should be carefully about not over renovating a price and creating a million dollar in an average suburb. This affect is known as ‘The Block Syndrome’ after popular renovation show ‘The Block’.
Real Estate Institute of Western Australia (REIWA) President Alan Bourke suggests that before you do renovations to sell a property that you speak to a real estate agent. This way the agent can help you decide how many renovations should be done and what a realistic ceiling price for the suburb is.
If anyone needs any help with this please let me know I am more than happy to help.
