First time investors!
A young couple contacted me after learning about Industry Insider Property through a Networking group in South Yarra.They are married and in the early 30s with 2 young children. The husband is a professional working in South Yarra area and his wife looks after the family and also works part time.
They have purchased one property together in their lifetime, like many first homebuyers, they learnt along the way. They purchased a smaller home that had been subdivided, as it was perfect for their needs at the time.
Currently they are looking at a long-term option to both accommodate their growing young family and generate some wealth through at the same time. They were thinking that they would like to purchase an investment property on the Mornington Peninsula, in a bayside suburb of McCrae, Blairgowrie or Rye.
I understand the Peninsula market and shared my insider knowledge on their desired suburbs. I researched and produced the average growth over the last 3 and 10 years respectively for the above-mentioned options.
Blairgowrie; Average growth last 3 years, 5.6% – 10 years 5.9%
McCrae; Average growth last 3 years, 4.8% – 10 years 5.1%
Rye; Average growth last 3 years, 6.4% – 10 years 5.8%
I also showed them three suburbs that I see as currently undervalued from an investment perspective and I produced the same research and report for their perusal. The undervalued suburbs that I mentioned are below.
Sunshine; Average growth last 3 years, 12.1% – 10 years 9.3%
Reservoir; Average growth last 3 years, 10.6% – 10 years 7.6%
Fawkner; Average growth last 3 years, 8.7% – 10 years 7.0%
When you look at the above numbers and compare them directly with each other, it’s clear to see that history has stated that if you are purchasing an investment for capital growth. The closer to the Melbourne CBD, the more likely you will see a stronger rate of capital growth.
My clients re-evaluated their decision to purchase on the Peninsula and have decided to focus on buying an investment property in the area they live, which is within 12 km of the Melbourne CBD.
They have identified that their current house will become a little on the small side in the next 5-7 years. With this in mind, they will buy a larger investment property with the view to move into this home when the family has outgrown their current residence.
I’m sure in the future they will be able to find that dream lifestyle and a holiday home on the Peninsula, but for the short term they are focused on finding a home they can lease out to a tenant.
At Industry Insider we specialise in buying established family homes in the inner ring of Melbourne, Bayside, and the beautiful Mornington Peninsula. If you need any assistance with buying, don’t hesitate to speak with one of our Property Buyer Agents on +61 8374 7652 or book a zoom call here
https://calendly.com/propertychat/discussion-with-industry-insider
Industry Insider Property
Level 3, 489 Toorak Road, Toorak 3142
+61 8374 7652
+61 402 346 810
industryinsider.com.au
