Investors will be the biggest driver of property activity moving forward, according to new research.
Data interpreted by Mortgage Choice found market conditions currently favour property investors who are looking to benefit from ongoing seller discounting, healthy rental income growth and longer term capital gains.
“The latest data suggests greater movement from investors taking advantage of subdued market competition and housing price reductions,” Mortgage Choice spokesperson Kristy Sheppard said.
“There are many more properties on the market than usual and less buyers to purchase them. Australians who are ready financially and keen to crack the market or build on their portfolio may find that some solid hard work sees them snap up opportune purchases while demand is low.
“Other encouraging factors are our healthy population and wage growth and low rental vacancy rates. Rents are rising at a faster pace this year while property values have steadied or dropped in many areas, so rental yields are on the increase. This all bodes well for people who research the market thoroughly, have a long-term strategy and are informed about their finance options.”