‘Doom and gloom’ headlines and why they don’t matter

However, accountant and investor Scott Kay believe that there’s nothing to worry about—not today and, most probably, not ever.

He explained: “There's always gonna be areas that have well-performing properties and poor-performing properties. It's really about the property that you buy.”

After experiencing a property boom for more than four years, Sydney’s market is now softening, and it’s a cycle that happens to almost all markets across Australia.

The capital city may not be the perfect place to invest in right now considering its current state, but there will always be wealth-creation opportunities available to investors in other markets.

Target market

Before jumping into a property market, Mr Kay strongly encouraged doing due diligence to make sure that your investment will be worth its weight in gold.

Factor in population, infrastructure, jobs, supply and demand, as well as other fundamentals of property investment to know whether you’re in a market that’s poised for growth.

Most importantly, consider your target market and how they will fit into your strategy.

Mr Kay said: “If you're buying property, just make sure you're buying the right place, and remember that buying property in the right place means something different to everyone.”

“It really depends on who you're trying to target. Ten years ago, experts are saying, ‘People want to live in units, near amenities, near the city,’ and that was a little bit revolutionary at that time.

“Now, of course, people in their 30s and 20s, they don't wanna live out in the sticks,” he added.

Changing world

At the end of the day, it’s the whole world that is changing more dramatically than the property markets.

A huge number of migrants are moving into different parts of Australia to work or to live and they are bringing with them their own lifestyle preferences—this is what investors should be keeping up with, according to Mr Kay.

As long as you know who the dwellings are for and the purpose that these properties will serve in your portfolio based on your financial goals, then you are most likely to find the right asset in the right suburb.

He said: “Keep connecting with what's going on. Don't panic too much.”

“Know where you sit within the wider footprint, how your property's gonna perform, and just buy the right property,” the accountant highlighted.

While it helps to be updated about what experts across the field are saying, it will do you well to know which of their messages are worth listening to.

Continue to engage with fellow investors and property professionals, but always base your decisions on your own research.

After all, no two investment journeys will ever be the same.

Mr Kay advised investors: “Be careful who you listen to. Be engaged, be connected, know what's going on in the market, but don't get wrapped up in all the fear going around right now.”

“If you're buying property the right way, if you're buying property in the right areas, you're buying property for the right reason, if you're buying property within your means, if you're buying property with a strategy in mind, you can confidently go into the market and look for those opportunities.

“Just be careful where you buy and who you listen to in terms of obtaining advice,” he concluded.

Tune in to Scott Kay’s episode on The Smart Property Investment Show to find out how you can maximise investment opportunities across different markets in Australia.

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• Expert advice

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