First home buyers and investors in Australia are starting to see opportunities in the property market following a decline. Despite high interest rates, owning an investment property is not as expensive as perceived, with an average cost of $14,641 per year. The growth in property values over time is a significant factor to consider.
Off the back of Australia ’s biggest property market decline on record, first home buyers that previously felt getting into the market was out of reach are now starting to see that it is possible. Some investors are also seeing the opportunity, and wondering if they should be trying to jump in and pick up a bargain.
, even with the high interest rates today isn’t nearly as expensive as most people think, with the average cost of owning an investment property worth $500,000 coming in at $14,641 per annum. You might be wondering why on earth anyone would bother buying an investment property if it’s going to cost you almost $15k a year, and it’s a fair question. The income and costs of an investment property are only one half of the picture - the other half is the growth in property values over time. In Australia the long term growth rate of the average property is 6.3 per cent per annum. This means that the expected growth on a $500,000 investment property should average out around $31,500 per annu
Australia Property Market Decline First Home Buyers Investors Opportunity Investment Property Growth Rate
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cost of living Australia: Clearance rate drop as prospect of another rate rise spooks buyersThe prospect of another interest rate rise has shaken buyers’ confidence, sparking a drop in clearance rates across the combined capital cities.
Read more »
Some home buyers to receive retrospective building indemnity insurance after South Australian builders collapseAfter lengthy delays, some home buyers left in the lurch over insurance issues are now restarting the process of finishing their partially-built homes.
Read more »
Unlucky 13th rate rise for home buyers as RBA punts on the economySome economists are already saying the Reserve Bank may have cracked the interest rate whip for the last time.
Read more »
Unlucky 13th rate rise for home buyers as RBA punts on the economySome economists are already saying the Reserve Bank may have cracked the interest rate whip for the last time.
Read more »
Unlucky 13th rate rise for home buyers as RBA punts on the economySome economists are already saying the Reserve Bank may have cracked the interest rate whip for the last time.
Read more »
Aussie home buyers now need to earn twice the national incomeNew research has revealed prospective homeowners require significantly above-average salaries to take out home loans as Australians continue to battle with soaring living costs across the country.
Read more »