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Are we on the up? A good news week for the residential property manager. | Real Estate Blog – Niche Portfolio

Tuesday, August 07, 2012

When it comes to buying investment properties, Australian’s are probably some of the most ravenous on the planet. With the Sydney property market in the position it currently is, many are asking themselves, is it time I contact a residential property manager? For decades, the reassuring tangibility of investing in bricks and mortar has been entrenched in our minds as the tried and true way for the average Australian to grow their wealth. The decision to contact a residential property management company is becoming more appealing for many Australians who are looking to take advantage of the positive lift in the Australian market.

And why not? Like any other investment market the property market will inevitably have ups and downs, however, the property market is unique in that the vast majority of properties tend grow in value over time. These are concerns that a residential property management company continually asks themselves. In order to protect your investment it’s important to remember to consider a number of factors that can affect the ways in which house prices fluctuate.

We’re more than halfway through the year now, and economic developments abroad will continue to influence our local property market. There’s no sugar-coating it, last year the Australian property market was in the slump stage of the property cycle, with many a residential property manager watching developments in the market with baited breath. The good news is that this year the cycle has moved on, and with this progress comes stabilisation of the market.

In good news for every residential property management company in Sydney, recent lower investment rates, paired with rent hikes in all the major cities, are serving to lure property investors back into the Australian property market. These factors, along with the Reserve Bank of Australia announcing a lowering of interest rates are all helping to strengthen the investment property markets’ outlook. Josh Williamson, an economist at Citibank, says “approvals of apartments, typically instigated by investors, are at decade highs; if these volumes are sustained the lull in construction activity might be more short-lived than we thought."

When considering purchasing an investment property, remember to ask yourself two important questions:

  1. When’s the right time for me to purchase?

There are countless groups and organisations whose prerogative it is to predict when the best time to purchase property will be. A good residential property manager, however, knows that the truth of the matter is that there will never be a perfect time to purchase. Waiting for the perfect time may mean you miss the boat altogether. The best time to purchase is simply when you can afford it. You’ve surely been to a dinner party and heard someone lamenting the fact they didn’t invest “10 years ago when prices were low.”

Investments take time. In reality the time you choose to enter the market isn’t the important thing, it’s the amount of time you are willing to remain in the market, letting your investment work for you, that’s important.

  1. What’s my plan of attack?

One of the pitfalls that many people make when entering the property investment market is a failure to adequately plan their investment strategy. With the current economic climate in the volatile state that it is, it’s important to have a clear understanding of where you want your investments to take you. The key thing here is to start out by outlining exactly where you want your investments to take you 10 or 20 years down the track.