Con­di­tions make in­vest­ment ‘sen­si­ble’

Western Suburbs Weekly - - Property Investment | Advertising Feature -

are tak­ing ad­van­tage of the de­crease in rent prices over the past few years and mov­ing closer to the CBD, ac­cord­ing to Abel Mcgrath – The Prop­erty Peo­ple Clare­mont.

In­vestor ser­vice man­ager San­dra Pereira said the agency had also seen an in­crease in owne­roc­cu­piers sell­ing and mov­ing into the rental mar­ket in the past 12 months.

“Cur­rently there is high de­mand for homes with four or more bed­rooms priced over $1000 per week,” she said.

“We are find­ing that these prop­er­ties are leas­ing at much faster rates than homes in the $500 range.”

Look­ing at a spe­cific sub­urb, Ms Pereira said the av­er­age rent for a house in Clare­mont was $695 per week, with an in­dus­try av­er­age of 65 days on the mar­ket.

The av­er­age rent for units was $428, with an in­dus­try av­er­age of 98 days on the mar­ket.

“The rental mar­ket is com­pet­i­tive and price-sen­si­tive,” Ms Pereira said.

“How­ever, prop­er­ties that are well-pre­sented, that have good internet pres­ence, a proac­tive agency and are priced com­pet­i­tively, will lease well be­low the sub­urb’s av­er­age days on mar­ket.”

When it came to prop­erty fea­tures, Ms Pereira said air­con­di­tion­ing was ex­pected and was a must for in­vestors to con­sider.

“Ten­ants are also look­ing for am­ple stor­age, un­der­cover park­ing and we are en­cour­ag­ing in­vestors to con­sider pets upon ap­pli­ca­tion,” she said.

Abel Mcgrath Clare­mont ex­pects the mar­ket to re­main un­changed over the next year, but an in­crease in pop­u­la­tion could have a pos­i­tive im­pact on the rental mar­ket.

Prin­ci­pal Carmel Gar­diner said it was a great time to pur­chase an in­vest­ment prop­erty.

“House val­ues are pos­si­bly at the bot­tom of the cy­cle and fac­tor­ing the cur­rent rental re­turns in your fi­nan­cial as­sess­ment, buy­ing an in­vest­ment makes sense now,” she said.

San­dra Pereira

Carmel Gar­diner

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