In Richmond, focus on older brick and timber cottages built between 1880 and 1930 and the collection of older style apartments when looking to buy investment properties, with classic designs more likely to have consistent rentals and higher capital growth over the long term.
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In South Yarra, good apartments in low rise blocks with dedicated parking prices start at $450,000 to $500,000 for a one bedder and approximately $600,000 to $650,000 for a two bedder.Free standing quality investment grade two-bedroom houses in the suburb can cost upwards of $1.1 million.
Myths. The property market is riddled with them. Often masked as positives, the consequences of falling for them often leaves investors dazed and confused – “how could a sure thing fail?” When navigating through the property world, avoid these fables to find property truth.
Located on the water yet close to the city, Elwood’s popularity with young professionals and investors alike comes as no surprise.
When planning on investing in property for the first time it is important to prepare yourself for the six main steps in any property journey (establishing finance, asset selection, negotiation, settlement, property management and portfolio review). With thorough research and preparation you can go from a novice to a property owner in three or so months.