5 reasons to buy an investment property in Perth in 2015
The current conditions in the Perth property market represent an opportune time for investors to start or build their portfolios.
Although Perth house prices are widely tipped to remain steady for the next 12 months, investors should take stock and capitalise on the softer market conditions.
Here are four reasons why it’s a good time to buy an investment property in Perth.
- Record-low interest rates mean investors can access extremely cheap finance to purchase property.
- Stock levels have risen by one-third over the past year to about 13,600 at the end of March, which provides buyers with a much wider range of choice.
- Those who decide to buy property in the softer conditions will encounter less competition as many investors will choose to delay purchases until market conditions improve.
- More ‘bang-for-buck’ as less competition means buyers can ‘upgrade’ and purchase larger properties or secure properties for less. The average vendor discount for houses has increased to more than 6% as of March.
- More control over contract negotiations as less competition allows buyers to weigh contract clauses in their favour.
Investors who take advantage of these favourable conditions and invest wisely in the next 12 months will be best placed to reap the rewards for the next upswing in the property market.