There’s nothing like a COVID lockdown to give us time to think about things. After all, there isn’t much we can do. So let’s turn this negative into a positive by talking about how the rental market is changing.
3 Key Trends
Trend # 1: Tenants are on the move
Tenants are looking for more space because they are working from home, home schooling their kids and craving open space. For families, there is a definite move away from units and into houses. As a result, rentals for houses are on the rise. In fact, it seems like the rental returns for houses are increasing each month.
Trend # 2: Young people are moving out of home
This is the group who are attracted to units. They are feeling a bit claustrophobic living with their parents and are looking for their own space. In general, they want clean, modern units at a moderate price.
Trend # 3: Seniors are moving into retirement villages
If you speak with retirement village salespeople, they’ll tell you their industry has never been busier as seniors are realising how isolated they are during COVID spikes. The great news for property investors is that this group is selling their homes, giving you the opportunity to tap into the potential returns from Trend #1.
What do these trends mean for property investors?
When it comes to investing in property, there are 2 investment strategies – purchasing for long-term capital growth or purchasing to gain passive rental income. Knowing your property investment strategy, should determine which type of property you buy.
Either way, now is a great time to review your situation so you can take advantage of the opportunities the current property market is offering.
Of course, you need to involve your financial planner when making these decisions. But we also suggest speaking with us BEFORE you buy as we can provide a comprehensive and accurate Pre-Purchase Investment Property Rental Appraisal. This will give you the latest information on the renters’ profile for the area you are considering. That’s important as it will determine whether you should be purchasing a unit or a house.
We’ll also provide you with information on:
- The current rentals achieved
- Days on the market
- An overview of the suburb
- Sought after locations within the area you are considering
- What upgrades you may need to make now or in the future
This is valuable, independent information you need to know before you sign a contract because it will guide you on the returns you can expect from a property. At only $150 + GST, our Pre-Purchase Investment Property Rental Appraisal could be the best investment you ever make.
Make the current lockdown work for you
With over 35 years’ property management experience, you can rely on Brigitte Stills and her team to guide you on your investment property selection.
So don’t waste the current lockdown. Start making it work for you by reviewing your investment property strategy and asking Brigitte to help you select your next property. To learn more or to arrange your Pre-Purchase Investment Property Rental Appraisal, contact Brigitte on 1300 091 638 or firstname.lastname@example.org