There’s been a lot of investment activity in the Australian property market this year, and while I recommend investing in markets close to home or work due to familiarity and proximity, there are many aspiring investors considering regional locations these days because they’re so much more affordable than our major cities. Cheaper housing also means less stamp duty, and the rental returns in regional areas can be even stronger than in some city markets.
So if you want to buy regional, why not take advantage of the Christmas period and spend your holidays in your favoured prospective investment market? Many agencies particularly in popular coastal locations remain open during the Christmas vacation period for this exact reason, so you’ll be able to inspect several properties while you’re there.
Spending time in the regional area you’re considering for investment is a crucial part of your research. You need to develop some knowledge and driving around the suburbs and walking down the main street will tell you a lot. Here are a few other ideas on how to learn more about the area while you’re in town.
It’s a great time to buy in many regional locations, with a number of our own regional offices reporting growing buyer activity as vendors become more realistic and buyers realise that there are some great buying opportunities. Some examples in NSW include Newcastle/Hunter, Port Macquarie, Wollongong and Byron Bay. Rental demand, yields and capital growth prospects in these areas are excellent. In QLD, you can’t go past the Gold Coast for value right now. That market will take a while to fully recover, but if you’re in it for the long term, you can expect some exceptional capital gains in blue ribbon suburbs such as Burleigh Waters, Sorrento, Broadbeach Waters, Paradise Waters, Burleigh Heads and Miami.
Just one proviso on all of this – while you’re out there doing all this research, don’t forget to enjoy your holidays too!
Important information: This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. For this reason, any individual should, before acting, consider the appropriateness of the information, having regard to the individual’s objectives, financial situation and needs and, if necessary, seek appropriate professional advice.
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