Property Investors should always be on the lookout for good value properties for sale. Since Property investors are more conscious of local real estate for sale, my recommendation for Property Investors is to buy in areas they know. What I mean is that looking for good value properties to buy not only in the suburb where you live, but looking at buying within a 1 hour drive is smart in my opinion.
The latest research indicates that property investors are rushing back into the property market. The number of Australian Real Estate Investors looking to buy a property has more than doubled compared to last year according to Australian Property Monitors. This follows strong sales in Melbourne and Sydney in February 2010. The auction clearence rate in Sydney for the last weekend of February was 75% compared to only 61% last year.
On average Sydney suburbs saw a growth of 12.5% in 2009 and for 2010 top sydney suburs are primed for above average capital growth.
According to John McGrath from McGrath Real Estate (probably the top authority in real estate in Australia) the property market strengthened significantly in 2009 against a weak economy and he predict gains of 8 to 10 per cent in most areas this year. The first two quarters of 2010 will be the launch pad for a long period of sustained growth in Sydney property prices.
For 2010 these are the top picks for investors according to John McGrath.
- North Wollongong
- Dee Why
- Lane Cove
- North Parramatta
- Surry Hills
- Lane Cove
- Breakfast Point