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Selecting the Right Investment Property in Perth
The property market in Perth is booming as the demand for housing grows! In recent years, property prices in Perth have appreciated by close to 10 percent – while inflation has been only grown 2.5 percent. This difference means that those who invest now in property in Perth stand to make real long term gains in value.
Sought after Localities in the Perth Property Market
While most properties in Perth are growing in value, as a property investor you want to locate the areas where the appreciation of property prices will be the maximum. These are the best areas to invest in. One place to start is close to the river and the waterfront. You can also look for properties close to the central business district: those will always be in demand, giving you a better increase in value and in rental rates over the years.
As more residents move in, the demand for residences in Perth will outstrip supply, making it easier to find tenants and maintain a reliable stream of rental income. While mid priced properties are the most sought after and the fastest rising in value, the ripple effect will mean that soon the cost of high end properties, i.e. those priced close to a $1 million, will also appreciate considerably.
Mix Property Appreciation and Rental Income in Your Portfolio
When you are investing in property in Perth, your portfolio should contain different types of units to create a steady income stream. Ideally, you want some mid-price units that can generate higher rental income right away, and other units or homes in key locations that can gain in value over time. This balance has to be managed carefully.
In order to understand the historic prices of homes in a location, you should approach a property dealer or property investment firm that will provide you with the right data and analysis.