A recent article published on realestate.com revealed an alarming trend. One in four Melbourne landlords have sold an investment property in the last year, leaving Melbourne ranked as the second worst capital city to invest in property.
While the trend is nationwide, only Hobart beats Melbourne for the bottom spot, as an estimated 217,000 properties have been sold by investors across Australia during the past year.
The blame is laid fairly and squarely on rising interest rates, as increased loan repayments contribute to numbers that no longer stack up for investors, along with the rising cost of property taxes and recent changes to tenancy legislation.
However, the high demand for rental properties means it can still be a great time to buy an investment property IF you nail the location and the numbers stack up.
Investors should take into account factors such as potential capital growth, rental return and cash flow, ongoing holding costs and future saleability.
If you’re a landlord thinking of selling your Melbourne investment property or buying another, why not recruit the assistance of an experienced property advocate to help maximise your return on investment.
Chat to us about how a property advocate can help you sell or buy in the current market with confidence. Investment buyers can receive invaluable support and guidance through our Buyers Advocacy Service, and for landlords who are selling, our Vendor Advocacy Service helps vendors achieve outstanding results.
To book a free 20-minute consultation, simply click here and choose a time convenient to you.
