Cityscape caught up with Harcourts property guru Mary Turnbull for the lowdown on investing in property.
What’s the local investment property market like?
It’s an attractive market for both seasoned and novice investors as there’s a lot of property available, giving the investor the chance to buy well. Interest rates remain low and the outlook for the city is extremely positive both from an immigration and rebuild perspective. If you add these elements together it’s definitely a good time to consider investing, and I believe this climate will be maintained for the next 18–24 months.
What are the key considerations?
Potential investors need to build their confidence, and this centres around accurately establishing the return a property would give you prior to purchase, maintaining that figure if possible, and being able to shoulder changes such as interest rates increasing. They also need to be comfortable with the location they purchase...