For some, that might mean tweaking a few details on plans that are already well established and ready to become reality. For others, the past year might have given rise to a major change in plans for a variety of reasons.

However, one thing we have noticed recently is that quite a few local residents have been watching all the reports of how much rents have been rising in Melbourne recently and begun wondering whether their plans should include purchasing an investment property.

Now that might sound a bit unusual given the ongoing talk about falling property values, but a lot of very successful investors would tell you that a falling market is exactly the right time to buy an investment. What’s more, we need to keep in mind that the latest data suggests that our median house price has dropped by somewhere around 5 to 6 percent, but this fall is from a peak where prices had increased by more than 20 per cent in the preceding couple of years! Hardly a reason for panic, is it?!

Those same investment gurus would also tell you that “no-one rings a bell at the bottom of the market”, which explains why an increasing number of Melburnians are starting to look at property investment with fresh eyes.

Consider these key facts:

• The latest Domain Rental report shows that rents have been rising for the past five quarters in a row and recorded their largest ever annual increase in the year to December.
• The number of properties available for rent fell by more than 20 per cent in 2022, while demand for rental properties is increasing, particularly now that immigration is back on an upward climb after two years of Covid restrictions.
• Combine these two facts and it’s easy to see why the Melbourne rental market is looking positive for aspiring investors right now.

Whilst we are not here to offer specific investment advice, in general property investment can clearly be a great way to secure your own long-term financial future, as long as you approach it with the right strategy and advice.

So if you have any questions regarding the Melbourne rental market in general, (or a specific property investment in particular), you can give us a call at Barry Plant Gladstone Park at any time on 9330 1088.

Regards,

Nick Pugliese - Sales Manager

and Bill Karp - Director

Barry Plant Real Estate

Gladstone Park