Carli Ziri, the director of Lifestyle Property Agency, is frequently asked by his clients whether to furnish or not to furnish the investment property they just bought. The choice actually depends on the investor’s preference. However, Ziri points out that before making a decision, you need to compare which of the two choices is more beneficial.
Most tenants would want to rent a place that they can customize to suit their taste. Also, furnished properties tend to have shorter lease terms, so you have to consider the money you’ll lose due to vacancy, maintenance, and extra agency fees and the premium you’ll receive. However, if you’re planning to use your unit between tenancies, then it might be better for you to furnish your investment property.
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Buyer momentum and seller confidence is both near its peak with Australia giving various optimistic signals in the property market. The historical barometer suggests that low interest rates have always evoked maximum response from the buyers. Australian Property Monitors (APM) is already showing a 1.5% escalation in its median prices with Gold Coast reporting the highest escalation of 2.2%, says Larry Schlesinger for the Property Observer.
Vendor discounts have dropped considerably providing sellers with many reasons to laugh. Additionally, the property prices are on a rise, interest rates are pretty stable and Australia is looking at a very high auction clearance phase lately. Charlotte Cossar for Realestate.com.au says that this might just be the time for you to put up your house on sale.
Doomsday predictors are never short on work- after all, rumour mills work overtime. However, those who have predicted a crisis will only agree that the real estate market is going strong, quite strong. People are still borrowing amounts pretty close to what they borrowed in peak years to fetch properties in Australia. Annual borrowing for residential mortgage shows a steady picture. Michael Matusik from Property Update rightly points out that all three types; the first home buyers, second + buyers and investors are showing strong signals.
Home values for dwellings (attached and semi-attached homes) reported a leap of 2.8% over the March quarter. Michael Yardney for Property Update suggests how each area has done well, with Perth showing highest growth and every capital city, except Adelaide, contributing to the total sum. Middle-priced housing sector is exhibiting maximum response, posting a hike of 1.6% in value of home dwellings. Contrarily, the lowest-priced and the highest-priced end of the spectrum have displayed a fall of 0.9% and 0.6% respectively.
