Login
iscover
Australian investors are set to step up their search for the right investment property over the Christmas break, according to one leading group.
“With interest rates sitting near record lows and rental yields consistently rising in our capital cities, conditions are ripe for a fully-fledged investor assault on Australia’s property markets in the New Year,” Angus Raine, CEO of Raine & Horne said.
In Melbourne, Michael Baliviera, state franchise manager of Raine & Horne Victoria, said real estate markets within 15km of the CBD are set to benefit from a surge in shrewd investor buying after Christmas.
“Investors typically circle those properties that hit the market a little late in the spring market cycle,” he said.
According to Mr Baliviera, suburbs in Melbourne’s north west, such as North Melbourne, Ascot Vale, Brunswick and Footscray will be in the sights of investors in the first weeks of 2013, with homes valued between $600,000 and $650,000 sure to attract plenty of attention.
“In Ascot Vale, a popular tenant market located within minutes of the CBD, it’s possible to secure a three bedroom home on a 320sqm block within the $600,000 to $650,000 price range,” Mr Baliviera, who claims investors are currently enjoying rental yields of five per cent in Melbourne’s north west, said.
In Sydney’s east, Tony Laing, co-principal of Raine & Horne Bondi Junction, said January is a popular month for investor activity.
“Whether it’s to purchase their first investment property or to increase their portfolio, we generally see more investors in the Bondi Junction market than any other type of buyer in January,” he said. Mr Laing, also tipped that well-located one and two bedroom units close to amenities such as the Bondi Junction railway station and the Westfield shopping centre, will be a major focus for investors after Christmas.
“One bedroom apartments in Bondi Junction begin from $450,000 and generate net yields between five and six per cent, while two bedroom units are on the market from $600,000."
Meanwhile in Brisbane, suburbs such as New Farm are achieving high yields.
Newsletter
