Almost every day, finance and real estate commentators in the media remind us about the incredible, bounce-back of the Victorian property market. Even Melbourne, which despite enduring its fourth extended lockdown, is showing resilience and even robustness. But it is the state’s regions that are really storming ahead as owners and renters beat a path to growth centres such as Bendigo, Ballarat and Geelong, as well as popular up-and-coming locations in outer-metropolitan areas.
This all means that, even if you live in the city, with no intention to move to the country, the equity you have in your own home may have increased significantly enough in recent months to provide a golden opportunity to buy an investment property.
That equity in your own home could potentially be used to put down a significant deposit, making you a strong candidate for a well-priced investment property loan.
What’s more, if you’re looking to invest, the combination of the lower house prices and tight rental markets in regional centres may see your rental income actually exceed your mortgage repayments, allowing you to enjoy real net revenue from day one.
If you’re an owner-occupier, and looking to expand your property portfolio, contact us today and start exploring the opportunities for buying a cashflow positive property while the market is still reasonable.