First-home buyers worried about being shut out of the market by cashed-up investors can take heart from the fact that affordable real estate can still be found in some pockets of Sydney | jcollett_money
First-home buyers worried about being shut out of the market by extra competition from a revival in interest by cashed-up investors can take heart from the fact that affordable real estate can still be found in some pockets of Sydney and Melbourne.
“When you drill down into nitty gritty of what’s happening [beyond the headlines] there are some soft parts of the market,” Dr Wilson says. Dr Wilson says first-time buyers can still find good value among one and two bedroom apartments that have historically been favoured by investors where sale listings have risen.Advertisement
The value of new loans for investor housing rose 12.7 per cent in March, seasonally adjusted – up more than 54 per cent than in the same month a year earlier. While high vacancy rates, lower rents and falling property values often deter investors, for those intending to buy and live in units for several years, they make no significant difference, he says.
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