Young Men Set Sights on Property Investment

A recent survey from financial comparison company RateCity suggests young men are chomping at the bit when it comes to purchasing an investment property.

New reports from financial comparison company RateCity suggest that young men are leading the pack when it comes to property investment, with those in the age bracket 25 – 34 years most likely to start their climb on the investment ladder in the next 12 months.

 

63% of men keen to invest

Results have come from the inaugural Property Investment Sentiment survey report*, which looked at responses from 69,592 Australians. Results show that 63% of men are planning to invest in property in the next 12 months, a 10% rise on the 2011 report, compared to only 37% of women in 2013, which is a 13% drop (on the 2011 report).

 

Starting younger

Previous results suggested the average age of a male looking to invest was 35 – 44 years of age. The 2013 figures show that age has dropped significantly and male investors are now becoming interested in the market from the age of 25 years old, a decade younger.

Alex Parsons, CEO of RateCity, said property investment is a good fit for many young Australians, “It’s easy to see why property investment is an attractive option to young Australian’s, who have more time to invest in a long-term strategy and property is a lower risk than other investment types,” says Alex.

A good time to start

Over half the people surveyed agreed the current market presented a good time to invest. Results showed that out of those intending to invest in property in the next 12 months 22% are currently renting, 43% already have a mortgage and 33% own their home outright, showing those interested in the investment property marketare at various stage of their property life cycle.

 

Tips For Investing 

The last few years have been interesting for property, many investors have been implementing the lessons learned during the GFC and the following recovery.

The downturn proved even the best investors can’t predict exact market timings, which is why they don’t try to ‘crystal ball’ the market. So follow their lead: learn from the past, get expert advice, check your finances and you will be on your way to investment success.

Below are a few top tips for investing.

 

1. Choose property attractive to tenants

It should be clean, have good-sized bedrooms, off-street parking, and good position Close to town if possible. These factors will ensure your property is attractive to renters and will guarantee your income stream.

2. Choose property that will grow in value

If the property is close to a major CBD, beaches, schools, public transport and leisure facilities it’s more likely to grow by more than the average in a good market and is more likely to hold its value in a down market. If you buy around the median price then more people can afford to rent it and more people can afford to buy it if you were put into a forced sale position.

3. Create instant equity

Quick renovations such as a paint job, re-carpeting, tidying the garden, painting the fence, installing new curtains or blinds, and replacing the kitchen-cupboard doors can significantly improve the value of your property

 

For More information on how to Invest Please talk to the sales agents
at the Yungaburra - Tinaroo Realty