After speaking to Resi’s John McLean this week about what’s happening in his area of Cleveland it’s great to hear there are a number of investors on the hunt for the right property.
John says in particular there has been considerable interest in investment housing near the Ipswich and Hillcrest areas which are fast gaining attention because of their sizeable appeal to families.
He also reports there are noticeably more people looking around for opportunities in other growth areas where travel networks, schools and other services continue to be well supported by the actual number of users, rather than any areas which may be subject to changes in government funding.
As for first home buyers, John says an increasing number have already been diligent in organising pre-approval and finance so they can pounce when they feel the time is right.
In terms of activity for upgraders, John says the properties moving the most at the moment are ones where the vendors have set a realistic price from the start. And he says this is critical, particularly if you want to move relatively quickly so you can buy and sell in the same market.
“Now is not the time to try and be too greedy. You need to set realistic expectations of what your property can fetch but also be prepared for negotiations – regardless of whether you’re buying or selling.” John says.
Tags: Home Loans; Budget; Affordability; First Home Buyers; Investment