Hi Guys,
I’m have been keeping an eye on a certain country town in Victoria. The prices have risen quite dramaticaly in the last 12 mths so obviously someone else is investing there.
My question is this. The amount of houses for sale in this small town has has risen quite a bit, would you steer clear of this place at the moment?
Im worried that investers are buying up the place which will cause a glut in the rental market there.
What are your thoughts?
[eh]
You will always miss 100% of the shots you don’t take!
I think you might find this typical of many country towns in the last year.
All the best,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked!
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Ronulas,
A lot of people are selling up now because they think they can cling to the last of the boom prices. That in itself isn’t a problem, I don’t think. It possibly depends on the ratio of homeowners to renters in the town. I quite enjoy places where there are a huge amount of renters. I see that as meaning my property will seldom be vacant.
What’s probably more revealing is the population of the place, and if there’s any new developments. If the housing stick remains the same with few properties being built, and you have some population increase, then you should be able to find tenants over the long term.
There is significant CG there and you wish to buy now? As you’d know, past performance does not indicate future growth. The vendors will be riding on this CG to sell up. It might be time to wait a while.
kay henry
its happening to many places and country towns but dnt let this put you down cause there still on the uprise so I would suggest to get in while you still can – dnt steer away.
kind Regards,
George.I’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how
Hi Ronulas,
If it is investors (particularly out of towners) who were buying in the town and drove up prices – then I fully agree with Mortgage Hunter – from your comments about increased numbers of properties for sale it sounds as if buyers will now have the upper hand and the prices are unsustainable.
As such your money may well be at risk.
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
