As the new year begins an exposion of enquiry is starting to flow. Many enquiries are in the majority from first home buyers. As people are starting to realise that the extra grant that the Rudd government has made available is only in place until the end of this financial year.
Any property priced under $300,000 is attracting many enquiries. Many buyers are still making offers $50,000 under the asking prices set, but vendors are also realising that demand is returning. Well priced properties will acheive asking price, if not something very close to it, as long as the price set is reasonable.
On the rental side of things, there is still high demand for vacant property and the vacancy rate is still very low. 3 bedroom homes with single lock up garage in the West Wallsend area are acheiving $300 per week and more. well presented properties with update kitchens and bathrooms with air conditioning are getiing close to $400 per week.
Now is a great time to buy that investment property. Returns of over 8% are being acheived by some landlords.
Financial experts are predicting a further 0.5% drop in interest rates by April this year. What a great time to secure a loan for a property. pay 7% interest on the load and get back 8% on the investment. Positive geared properties are on the way back.
to view some well priced properties go to www.nobullrealestate.com.au/properties.php
Posted by No Bull Real Estate 