But they’re eying off houses rather than apartments as prices fall.
prices will wipe out investors’ capital gains, despite a double-digit surge in rents expected to boost income, according to analysis.
It is also the second-largest drop for a seven-month period since records were commenced in 2004, Lawless says.Queensland, which became a mecca for investors during COVID-19, posted the biggest falls of around 27 per cent to end-December, followed by 25 per cent in Tasmania and 23 per cent in NSW, according to CoreLogic. The fall in Victoria was around 17 per cent.
Suburbs that returned a neutral or positive cash flow for houses fell from around 1200 to about 400, while the total for units slipped from about 900 to 250 after rates began to rise. For example, rents for Sydney units have jumped by about $360 a month since last January but mortgage repayments on a $500,000 loan have increased by about $755 a month.
A slowdown in property sales as vendors struggle to sell properties has helped to increase supply and contributed to rents falling in nearly 500 suburbs nationwide during December.
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