Investors could be making a move: Mortgage Choice
Vendor discounting and healthier rental growth should prove enticing to property investors, Mortgage Choice has claimed.
The company has stated a 2.1% rise in demand for investment lending in March - the first increase this year - could be a sign investors are eyeing the market. Mortgage Choice spokesperson Kristy Sheppard said waning demand and climbing levels of stock on the market could present an opportunity for savvy property investors.
"There are many more properties on the market than usual and less buyers to purchase them. Australians who are ready financially and keen to crack the market or build on their portfolio may find that some solid hard work sees them snap up opportune purchases while demand is low," she said.
Sheppard said population and wage growth, as well as low rental vacancy rates, should be encouraging factors for potential investors.
"Rents are rising at a faster pace this year while property values have steadied or dropped in many areas, so rental yields are on the increase. This all bodes well for people who research the market thoroughly, have a long-term strategy and are informed about their finance options," Sheppard commented.