Investors who fail to take advantage of the property market could regret it, the Property Investment Professionals of Australia (PIPA) has claimed.
“You can’t deny it – the opportunity for investment in property is incredibly attractive right now,” said PIPA chair Ben Kingsley.
“Another rate cut this month has brought the cash rate down to a historic low of 2.5 per cent and home loan interest rates have hit very alluring levels as a result.
“For investors, this translates into lower costs and better returns and for aspiring investors, it could mean that all important first purchase is now a very real possibility.”
Mr Kingsley said current fixed rate home loans are at historically low levels, making the cost of borrowing money cheaper for investors.
“A fixed rate is a popular choice for investors who want cash flow that doesn’t ebb and flow, and right now we are in the rare position of seeing fixed rate products with rates of interest lower than variable rate products,” he said.
With general sentiment and media commentary around property turning positive and property prices starting to show patchy increases, investors would be smart to consider a purchase now, before this opportunity disappears, Mr Kingsley said.
“That said, it’s critical investors keep a cool head. The worst investment decisions are often made on a whim or with little research, so the proper due diligence steps, including seeking out expert advice, are a must,” he advised.