Buy during the gloom, not the boom

A slowing of the economy and a decrease in demand for housing has created a once in a lifetime opportunity for buying solid investments in selected areas of Perth with strong growth drivers.

There are now fewer buyers in the Perth market place and more properties available for sale. This means that properties are taking longer to sell and vendors are dropping their prices in an attempt to move them on. Don’t sit back and watch when the market is mature, buy when prices are low.

Key to buying an investment property in any market is locating the areas that have growth drivers.

Some suburbs will do well even if overall city property growth figures are not favourable. Astute property investors should buy in areas with strong demand from renters; focus on areas with forecasted growth in population, employment, industry and infrastructure.

Here are the top tips to consider when buying in the gloom market: