Young Investors Reaping Property Rewards
A well-considered investment property can double in value in as little as 10 years. With the old adage ‘time is on your side’ in mind, Australia’s enthusiastic young investors are getting into the property market early and reaping significant gains.
Key Motivations to Buy
Younger investors are getting started as early as 18 or younger, or as soon as they’re able to work. According to a 2011 survey by Mortgage Choice, setting up oneself financially is one of the top motivators for younger investors.
Other reasons included not being ready to own their first home, wanting to get a head start in the market, and not yet being able to afford to purchase their dream home. The same survey found that 77 per cent of Generation Ys were already making lifestyle sacrifices to achieve their property goals.
Sydney’s Inner-City Star Performers
Some of Sydney’s top performers in the apartment category have been those in the mid-range, situated in the lower North Shore and the city-east areas. Various inner-city locales have yielded great capital growth, which bodes very well for investors looking for inner-city investment property.
Sydney’s North Shore is the primary residential area of northern metropolitan Sydney. Some of its suburbs, such as McMahons Point, Waverton, Hunters Hill, and North Sydney, have show excellent growth for mid-range properties below the $600,000 price mark.
Growth has been estimated to have been as much as 10 per cent in the past year for the area. Given their excellent rental returns, one-bedroom and studio units and apartments have proven to be the most popular, particularly for property investment.
Brisbane’s Bowen Hills a Top Property Performer
Queensland has more than bounced back from the 2010/2011 floods, with Brisbane set for a period of intense urban renewal and development. Over the coming years, the Sunshine State’s capital city will see a series of major projects ranging from infrastructure to commercial and residential development. These projects will provide attractive opportunities for property investment, particularly in ‘up-and-coming’ suburbs such as Bowen Hills.
A Quick Look at Brisbane’s Unit Market
Brisbane’s unit property market is robust, with a strong spring season projected for apartments.