5 locations first-time investors should consider


First-time investors who would like to get their slice of the property market while it's hot should consider breaking into locations with an affordable entry point and strong economic conditions.

First-time investors who want to get their slice of the property market whereas it is sizzling should consider breaking into locations with an inexpensive entry level and robust financial circumstances.

Grant Foley Property director Grant Foley stated property investors are beginning to look away from Sydney and Melbourne, the place entry-level home costs are already above $1m.

“Two-thirds of our inhabitants dwell exterior of those two capital cities, the place buy costs are extra inexpensive and infrequently in locations the place there may be glorious potential for worth uplift over the medium- to long-term,” Mr Foley stated.

Mr Foley recognized 5 locations the place first-time investors can begin or develop their portfolio.

These embody Moreton Bay, Ballarat, Newcastle, Adelaide, and Perth, which all have established freestanding homes underneath $650,000, an ideal value level for up-and-coming investors.

Take observe, nonetheless, that in accordance with the newest information from Real Estate Investar, Perth’s newest median home value is at $775,000.

Rise of regional locations

Mr Foley stated the Moreton Bay area was experiencing ripple progress from Brisbane City Council suburbs as first house consumers sought extra inexpensive housing choices.

It isn’t any shock {that a} location in Brisbane is Mr Foley’s best choice.

In truth, a latest survey by the Property Investment Professionals of Australia (PIPA) confirmed that three in 5 investors suppose Queensland and Brisbane have the most effective funding prospects over the yr.

“The region is also benefitting from strong interstate migration, as well as myriad major infrastructure projects including transport nodes and a new university – with gentrification of the Redcliffe peninsula also under way,” Mr Foley stated.

Ballarat can also be a high spot for would-be investors.

The regional cities promoting level is its brief proximity to the Melbourne CBD — simply 1.5 hours’ drive away.

“More and more investors are recognising the potential of major regional locations such as Ballarat that have diverse economies as well as being within an hour or two of a metropolitan area,” Mr Foley stated.

For these on the lookout for a spot that may be thought of as a substitute for Sydney, Newcastle is the way in which to go.

Mr Foley stated Newcastle has at all times been a go-to vacation spot for homebuyers and investors who needed to capitalise on the new markets of New South Wales.

“Newcastle has reinvented itself from a former metal metropolis to a life-style location that boasts wonderful seashores, jobs in well being and schooling, in addition to being inside commutable distance to Sydney for these working within the Harbour City a day or two per week,” he stated.

Capital cities maintain up

Among capital cities, Mr Foley recognized Adelaide and Perth as the one two price contemplating for first-time investors.

Mr Foley believes what makes Adelaide a viable place is its sustainability over time.

Investors who discover consolation in security should consider entering into the Adelaide’s housing market on condition that it doesn’t essentially expertise booms or busts.

“The buy-in value for a home within the City of Churches stays inexpensive for consumers and investors alike, together with doubtlessly buying in its funding grade middle-ring, which isn’t an choice in most different capital cities,” he stated.

Perth additionally seems to be holding up. Pre-pandemic, Mr Foley stated there was not a lot occurring town.

“There was a time limit when the Perth median home value was on par with Sydney, which most individuals have forgotten about,” he stated.


Photo by Kindel Media from Pexels


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