Stocking Up For Christmas
Christmas is just around the corner and people are busy trying to stock up on those last minute presents. In Perth, what we really need to stock up on is quality rental properties. With vacancy rates still at an all time low, and little to no stock coming into the market, many would be tenants are going to feel like they have been left with a lump of coal. While it may be too late to add an investment property to your portfolio stocking for this Christmas, now is the time to get a jump on the market heading into the New Year.
With current industry trends, construction times for single storey homes are sitting at around 10-12 months from slab down. That is if you are going with a builder that manages their workload and resources properly! With good organisation on your part and an experienced team to help you manage your project, the time it takes you to get your completed property to market will be much sooner than other investors that adopt a “Bah Humbug” approach.
Part of the joy of Christmas is the surprise you get when opening presents. The last surprise that you want to receive is an investment with little to no return. Yes, the Reserve Bank chose to add another interest rate rise to our Christmas stocking this year but by doing your due diligence, you can work out how a realistic rental yield may be able to offset any additional costs. So, let’s get a jump on the competition and get your investment happening before the rush starts.