Saturday, February 06 2016
Nathan Birch, an investor who owns 200 investment properties that net him approximately $500,000 in income a year puts South East Queensland as his pick. “If I had to start my portfolio again from scratch, today, I’d be buying in southeast Queensland,” he said. “The prices are better than in Sydney and Melbourne and there’s more room for them to increase. Sydney will still see some growth this year, but it’s probably close to maxing out.”
He added that there are similarities between the property market now and when he bought his first home in 2004.
Back then, Sydney was coming off a price boom that had stirred fears of a price bubble. Homebuyers were nervous about possible interest rate hikes and if the economy would land in trouble.
“In some ways, it’s easier now,” Mr Birch said. “At the end of the last boom there were a lot of homes for sale, but not enough people who wanted them. Right now, there’s still a housing shortage in Sydney and a lot of people looking to buy.
”The way I see it, there are good and bad times to be buying property, but ultimately you have to take action. Too many people have goals, but don’t do anything to make them happen.”
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