The Canberra property market continues to break records and according to 1Group Property Advisory Director Julian Muldoon, that means property investors may want to consider looking further afield for an investment property.
“The factors driving the market are different in Canberra and if you are thinking about a property investment, there’s a lot to consider.
“It’s not necessarily a bad time to buy if you’re a keen investor and you’re acquiring property, but you need to be careful what you invest in and why, because not every market is moving at the same pace and our behaviour has shifted since COVID-19,” he said.
“It’s obviously a seller’s market, but for mum and dad investors, it’s always a tailored answer – everyone’s situation is really different.”
Industry leaders including Mr Muldoon from 1Group, RSM Australia Director Andrew Sykes and BAL Lawyers Director Benjamin Grady will present a free property investment seminar at the National Press Club on Tuesday 30 March from 10:00 am to 11:00 am, both in-person and online as a webinar.
The event will hear research findings across the property industry that can help buyers decide which market is the most appropriate for their investment dollar, key trends across residential and commercial property investment, the practical implications of different strategies explained through case study examples and what to look for when buying or selling property.
Since the rise in necessity of working from home and prices rising in Canberra’s property market, both affordability and lifestyle factors mean the satellite towns around Canberra may look like a better investment proposition, but Mr Muldoon points out that ‘life as usual’ will return, and with that will come businesses who want staff back in the office.
“People want a better quality of life at a lower cost, and that means looking for a property in regional areas,” Mr Muldoon said.
“But, Homebuilder will end soon and Melbourne has a stamp duty extension which ends mid-year, and the bank assessments on interest and the relaxation of responsible lending rules mean credit applications are improving.”
“I’ve read some really fascinating data from the United Kingdom, 50 per cent of people looking for property in London are looking outside the capital, in the more regional areas,” Mr Muldoon said.
“In Australia, the Mornington Peninsula in Melbourne and the Northern Beaches in Sydney are thriving in terms of price – the pandemic has amplified that behaviour shift.”
If you would like to know more, attend the free Tips and traps of property investment seminar on Tuesday 30 March, 10:00 am to 11:00 am online, or 9:30 am to 11:00 am at the National Press Club. There is no cost to attend but bookings essential.