With demand for rental properties set to soar this year, property experts, such as We Find Houses, are urging investors and renters to get in now ahead of an expected price rise.
Property investors are gearing up for a strong year as big rent increases and strong capital gains are expected to offer double-whammy returns during 2010. Demand for rental properties, from both investors and tenants, is expected to surge during the next few months as people attempt to lock in properties before prices rise even further.
The latest statistics show there is certainly good times ahead for landlords with Research company Australian Property Monitors forecasting rent increases of up to 11 per cent in 2010 after little or no growth during most of 2009.
Australian Property Monitors forecasts Brisbane median house rents will increase nearly $40 a week up to $400 a week by the end of the year. Brisbane’s median house rents will outstrip that of Melbourne if the forecasts are correct. In Melbourne, the report indicates house rents to rise 5.6 per cent and units to lift 7.5 per cent.
Current research from Resi Mortgage Corporation has found the number of people intending to become property investors has almost doubled during the past year, and this is supported by the number of people looking for companies who specialise in providing property investment services, like Australian company We Find Houses.
We Find Houses Managing Director Paul Wilson has witnessed a doubling in the number of customer inquiries since November 2009 compared to the same time last year.
Paul Wilson says, “The market is now becoming a place where investors can make solid returns, especially with our specialised property investment services. I think the so called Global Financial Crisis stung a number of investors, and customers are now looking to the safety of property and professional organisations who can assist with their long term investment planning.”
We Find Houses can be contacted on 1800 600 890.