PORT AUGUSTA SALES MARKET UPDATE: JUNE 2020
Amidst the flurry of media report surrounding the impact of COVID-19 and the real estate market, one thing has stood out more than ever in the Pt Augusta greater region, and that is property investor activity. This can be attributed to number of factors, which can be interpreted in a number of ways however one is very easy to read.
The current crop of investor buyers recognises the ‘reward vs risk’ for purchasing investment properties in this area is very good right now.
The cheap buy-in prices, the excellent rental return and vacancy rate – all contribute to properties being snapped up by savvy investors. Whilst under lock-down, many investors have had the time to do the sort of research needed, and in most cases at contract stage, I would hear the same words from them – ‘It just makes financial sense to buy up there right now’.
So what does this mean for current landlords? Is there anything else worth considering right now? The answer is that any current landlords should be looking to expand in this market. Conditions are perfect to acquire another investment, and vendors are willing to do deals on the price to achieve a sold result. With regards to stock, I can assure you that excellent return is available from a majority of my listings, all of which would be suitable in one way or another for a tenancy.
Of the last 8 sales – 6 have been sold investors and will become working rentals immediately. This is a great market for investment buying, and we are ready and willing to assist you right now. We look forward to hearing from you soon.
Jason O’Halloran & Charmaine Budd
Ray White Port Augusta
08 8642 5777