What does 2017 hold for the property investment market?
January 2, 2017 | Finance
Learn How The Setbacks Of 2016 Will Benefit Property Investors In 2017!
It’s no secret that this year has been quite unpredictable. We have seen lots of uncertainty in the marketplace and the property investment industry has taken a real hit. The really good news, though, is that this is about to change and industry experts are predicting great things for 2017.
In fact, 2017 could be the opportune time to invest in property and there is one particular type of investment that could prove be an absolute goldmine! More about this in a moment.
So what happened in December?
- House prices are slowly creeping up and for the first time in months, they actually rose by 1.5% in the third quarter. The predictions are that they will continue to rise and will be up by 3.5% over the course of the year. So as they say – after hitting rock bottom, the only way is up!
- After all the craziness that ensued the US elections and Donald Trump securing presidency, The Reserve Bank of Australia announced that it would hold the official cash rate in December at 1.50%.
- NAB and Westpac decided to increase mortgage rates for investors which isn’t great news but on the upside, it’s a sign of increased global economic growth.
- With the Australian dollar being at an all-time low, the tourism and education sectors have started to boom. Overseas students are flocking to Western Australia as it’s one of the cheapest places to rent at the moment.
What’s Hot in Housing?
Doubleview appears to be in hot demand at the moment in terms of the rental market. Renters who want to live close to the beach, freeway, shopping centres and sought-after schools are favouring Doubleview over other suburbs as it offers all of these things plus more. This is great news for those looking to invest in this area as there are some fantastic opportunities available in this suburb.
Most In-Demand Suburbs for Rentals
- North Perth
- West Perth
- Shenton Park
Best Selling Suburbs for December
- East Perth
- Mount Pleasant
What’s Hot in Property Development?
A fantastic opportunity has arisen in the newly developed suburb of Dayton in the Swan Valley area. WA Planning Commission has approved 50 green title lots along Arthur Street and this area is now available for purchase as a whole. Each lot averages 335m2 so there is plenty of scope for development.
Kara Tripp, Managing Director of Resicom Access advises “For anyone looking for a great investment opportunity for 2017, this is it. There is a huge amount of growth happening in the Dayton area and this project has the potential for considerable upside”.
For more information about investing in the Dayton site or other investment opportunities for 2017, contact Resicom Access directly on 1300 123 127.