2021 is the Best Time to Invest Property in Australia

The important thing to remember is that Australia is such a diverse market, depending on where you’re looking to buy. As such, not all areas should be treated equally. Louis Christopher, the managing director of SQM Research, expects Australian property prices to rise up to nine per cent throughout 2021. He identifies Perth as likely to be the best-performing capital city, with a growth of eight per cent to twelve per cent. This is followed closely by Sydney with a projected growth of up to eleven per cent.

1. Record low-interest rates and government incentives

All in all, now is a unique time to look into property investment in Sydney. Property prices are increasing; it’s set to be a huge year in the property market!

The recession in Australia saw a dip in property prices in mid-2020. Yet prices have quickly rebounded now that the pandemic has, for the most part, been contained.

The Australian economy is recovering, consumer confidence is up and over 70 per cent of the jobs lost during COVD have been restored.

Record-low interest rates announced towards the end of 2020 make buying a property extremely enticing for both first home buyers and investors. For the first time in Australian history, investors can keep costs low and pay off their investment quickly; definitely something worth taking advantage of.

2. Future growth potential

If you invest in property in Australia and your property value increases, you’ll benefit from a capital gain when you sell, minus any Capital Gains Tax you are required to pay. The great thing about the property market in Sydney is that it has shown long-term steady growth. Therefore, it’s fairly safe to buy property believing it will continue to do so.

If you buy property in Sydney in a stable area, you’re sure to see capital growth, especially if you’re buying as a long-term investment. The key, like any large financial decision, is to do your research thoroughly and buy what’s best for you.

3. Long-term security

Last year’s volatile market proved that property is a sage investment decision. It proved the property market has the ability to weather even the darkest storms. Property is widely known as one of the more secure options available to investors. And, by buying property now before major investor activity picks up again in Sydney, you’ll be ahead of the curve. You may even be able to pick up a bargain in certain areas.

Property Investment Professionals of Australia’s (PIPA) chairman Peter Koulizos says that CBD apartments will be far more affordably priced this year. But this window may not last long. Once international students return to Sydney this year, rental markets in the city will pick up. When it does, demand for these properties will increase.

When it comes to making the decision to invest in property in Australia, one thing is for sure; it’s going to be a busy year! By doing a thorough research and taking into account your unique circumstances, you can find the investment property that’s right for you.