Off plan sales continue to show strength
With the official arrival of Spring this week, it seems that the property market in the Preston and Northcote area is set for a busy 3-4 months ahead. However, whilst most market watchers are well aware of the strength of demand for established property of all types in recent months, what you may not be aware of is the level of activity in sales of property ‘off the plan’.
Regular readers may recall that around a month ago we posted about some of the strong results our team has achieved in selling brand new homes off the plan, i.e. before the properties have actually been built. Indeed, a few months ago we also posted an article on the BENEFITS OF BUYING OFF THE PLAN.
However, it has been interesting to see that the strong activity we reported in the past has continued unabated. In fact, in the past few weeks alone we have been able to achieve some outstanding off the plan results on new developments in Plenty Road, Kallista Court and Swallow Street in Preston.
Apart from the obvious stamp duty savings that many buyers are enjoying, including several first home buyers who have found they have increased budgets due to the financial benefits of buying off the plan, we are also seeing an increasing number of buyers responding positively to the opportunity to secure a property at today’s price, then being able to sit back and save additional funds while the property is being built.
Of course, a number of investors have been keen to secure the additional tax depreciation benefits that come with buying a brand-new rental property as well.
Remember, if you are curious about the opportunities that buying off the plan may offer, and would like to find out whether this popular option may suit your plans, don’t hesitate to give us a call on 9478 6344.
George Metax & Anthony Cardinale
Directors – Barry Plant Preston