Regardless of who wins the Federal Election later this week, now is the ideal time for those interested in investing in property to get on the bandwagon, according to Ray Ellis, CEO of First National Real Estate.
“Strong rental yields coupled with good buying conditions are creating a perfect market for would-be investors to build their wealth through property,” Mr Ellis said.
“There are many advantages to investing in property and at the start of a new financial year, when people’s minds are on tax, investors should look at capitalizing on the tax advantages in particular.
“Property as an investment is also an excellent vehicle for generating income and capital gains and it is relatively low risk.”
Mr Ellis said there are a lot of ways for people to take the first step on the property investment ladder, such as buying with family, friends or work colleagues – it’s just a matter of being a little more creative and strategic in their thinking.
“Investors are once again claiming the market space being vacated by first home buyers whose numbers are beginning to level out,” Mr Ellis said.
“So, now is the time to capitalize on market conditions before investor activity returns to normal levels and competition begins to heat up again.
“Existing home owners could consider using equity they have in their own home, or other investment properties.”
Over the last 12 months, rental yields have strengthened, vacancy rates have remained tight and there is an ongoing supply shortage in the face of strong and growing demand, especially as increasing interest rates erode housing affordability.
“This general trend in the rental market is expected to continue for some time, and certainly for as long as neither party plans to do anything to effectively manage the supply versus demand equation,” Mr Ellis said.
“Regardless of the political outcome, property will remain a strong contender for the investment dollar.”
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