The lesson here is clear the crap out of your portfolio & keep the quality!
Property is one of the greatest investments for long-term wealth creation and there is no one that argues that point stronger than me!
SMART ADVICE JO!
This just shows that unit growth is slower in areas where there is some of the most expensive housing in each capital city!
The differential between house and unit values is widening across Australia’s capital cities where houses are now recording greater value growth than units.
Good or bad…you be the judge.
Queensland’s Property Occupations Bill was passed earlier this week, meaning the way real estate is bought and sold in the state will change for both buyers and sellers: here’s what you need to know.
It literally pays to invest in Queensland!
Australians earned more than $33.5 billion in rental income on investment properties and claimed more than $41.5 billion in tax deductions against those properties in the 2011-12 tax year, according to the latest Australian Taxation Office figures.
The more people I speak to in this market the more I realise that everyone is hanging out for that once in a lifetime bargain buy that they can talk about for years to come. The fact is that a good quality property bought at a below average price will always out perform the majority of properties bought at “bargain” prices because more often than not the quality is lacking in bargain buys.
Why is this the case?
Firstly you need to ask the question, if a property is advertised as a bargain, why is it being advertised at all? Because 99.9% of real estate agents these days have a very large data base and any ‘bargain properties’ have the real potential to be bought by those people on the data base.
Secondly, if you have an opportunity to buy a property at a bargain price and that has been on the market for some time , there is usually a catch. It can be said that the properties that are easy to buy are always the hardest to sell and visa versa. Obviously there are exceptions to that in good and bad markets, but usually I find it is true.
Those home buyers or investors that hold out for the bargain buy will undoubtedly miss out on the opportunities for good quality property that present themselves nearly every week.
You only have to look at some of the wealthiest people in Australia, they have made the vast amount of their fortune through property. I think you could assume the property they bought was good quality at a good price (not necessarily a bargain) and thus it achieved fantastic capital growth making it look like a bargain in the long run!
It is a case of you need to spend money to make money….