ExecutiveChronicles | Investing In Australia – An Inside Look at the Melbourne Property Market | With property prices doing surprisingly well throughout the pandemic, it pays to have an insight into the market before you begin planning for your first (or next) investment property. To help with this, we’ve gathered expert information to give you an inside look at the Melbourne property market.
Buyers Are Flocking To Outer Areas Like The Bellarine Peninsula
The first thing you need to be aware of is that buyers are still flocking to outer areas like the Bellarine Peninsula. With plenty of recreation in the area and strong development potential moving forward, it’s worth speaking with some local Torquay builders to see what would be the best investment in this region.
Building from scratch allows you to create a fully custom environment and means you have total control over crafting the perfect short or long-term rental that can also function as the family holiday home if you wish.
The Opening Of International Borders Could Push Rental And Purchase Prices Up
Now is a great time to get into the market as the opening of international borders is tipped to push property values up. Getting in now could help you save on the initial outlay for your new investment. If you plan on renting out the property, it should also offer significant potential for increased profits in the short to mid-term. At the very least, now is the ideal time to start looking at your property investment options.
You May Be Able To Acquire Commercial Property For A Discounted Price
If you’re more into the business side of things rather than private dwellings, we’ve got good news. Forced work-from-home arrangements across the board have seen many office buildings come into the market for far less than they otherwise would have.
With a return to office work imminent, now is a great time to be looking at commercial property investment. You’ll obviously still need to do your research, and we strongly suggest having a professional by your side for this part of the process, but snapping up a bargain could be easier than you think. Even if the property is no longer suitable for its original purpose, you can give it a new (and profitable) lease on life by catering to the needs of our post-pandemic society.
You Could Snap Up An Affordable CBD Apartment
Lockdowns have robbed many CBD areas of their sparkle. The good news is that things look like they’re picking back up, but property prices are likely to lag behind the recovery. This is great news for first home buyers looking to get into the market while things are a little more restrained.
We know this piece is about investing, but in many cases, if you’re not already on the property ladder, purchasing your own home first is the best place to start as you’ll secure your living arrangements while building equity. If you fall into this category, we suggest seeking professional advice tailored to first home buyers as everyone’s situation will be different.
The information in this article is general in nature and should not be taken as financial advice. Having said that, these insights should help you decide on a starting point for your investment journey and can be a great resource for those looking to explore the Melbourne property market. Your strategy will need to be tailored to your investing preferences, available properties at the time of purchase, personal budget, and more. So we strongly suggest seeking the assistance of a professional when making your selection. Happy hunting!