The best place for a property investment in Australia is in any city with a soaring economy and a consistent population growth over the past several years. In terms of population, it would be best to start looking in places with an average of over 200,000 residents. These cities include Sydney, Gold Coast, and Melbourne. Follow our 3 RULE process to learn more.
The real estate industry is seen as one of the most efficient places to put your money as the properties continue to have an increasing market value. Although the beginning of any investment in real estate is a bit costly, these property investments earn money on its own over the years.
If you have a limited budget to invest or buy a property, you can co-own with someone else, particularly a family member. However, it is imperative that all finances should be calculated according to your percentages in co-ownership. Also, with property prices on the rise, many investors consider pooling their capital to purchase a joint investment. While this may be tempting, some investors make the mistake of calculating depreciation and then splitting the deductions based on ownership percentages. Thus, hiring a professional is often recommended to avoid any pitfall throughout the investment journey.
According to recent statistics, real estate sales are around 6% higher in November than in January (since January is considered the cheapest month to buy a property). Hence, the best months to sell a property in Australia is between October and December.