I have spent the last few days doing some professional development with some other investors and we got to talking about the GFC. After talking about the decreases in interest rates, increasing rents, some great property investment bargains, businesses for sale with attractive returns, and great opportunities for profit for those willing to take advantage of new technology and communications we decided to rename it the GFO – the Global Financial Opportunity. Certainly I’m getting that feeling at a local level, in the Australian property market.
My evidence for a pending property ‘boom’ is mounting. These are the things I am weighing up:
1. The anecdotal evidence that I hear from clients is that there are plenty of buyers competing for properties up to $1.5 million (and not so much for $2+ million properties).
2. There was in article in the popular press (Australian Financial Review) at the weekend talking about property prices increasing. And when the press starts to report positive news I start to take notice.
3. On the down side the ABS have reported a 2.2% drop in overall property prices.
4. However property statistic company RPData have refuted the ABS’s figures, saying that their research shows an overall increase of 2.8% (4.5% in Melbourne). They say that their statistics are more reliable.
5. An interview with Jan Somers in Property Investor magazine listed this combination of low interest rates, increasing rents and increasing salaries to be one of the best times to buy in the past 40 years. Jan is one of Australia’s property investment gurus.
6. Property Statistic company Residex has just released it’s prediction reports showing the areas where they predict 7%+ growth over the next 5 years.
7. The share market has trended up for the past two months, which has historically preceded a property boom.
All this makes me think that the next two years could be very kind to Property Investors. Of course no-one has a crystal ball, and I certainly can’t predict the property market, but I am constantly searching for more evidence on this, and I’ll let you know as things come up for me!
Upcoming Events
Here’s a list of events for our clients, family and friends.
Some are already booked out, but some dates still available.
A Sydney date has been confirmed (details soon) and I’m going to do my best to finalise a Brisbane date this week.
If someone you know has been asking your about property investing this is a great way to skill them up, just remember that we only take booking from people you know so if you tell your family or friends about it remind them to mention you when they call Ro go book their seats.
Property Investment Bootcamp Melbourne 24th June, 1st July and 8th July – Booked Out
One Day Property Investment Bootcamp Sydney 27th June – Details coming soon, ring Ro to register your interest on 03 9818 6755
Investment Workshop Wednesday 22nd July – Mark this date in your diary. Details to follow soon.
Property Investment Bootcamp Melbourne 29th July, 5th Aug, 12th Aug – Booked Out
Property Investment Bootcamp Melbourne 2nd Sep, 9th Sep, 16th Sep – To book now ring Ro on 03 9818 6755
One Day Property Investment Bootcamp Melbourne 3rd October – To book now ring Ro on 03 9818 6755