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Where to buy an investment property?

Whether your a first time buyer or a seasoned investor, there are a few key features an investment property must have. The property must be able to achieve an increase in capital growth, an increase in rental yield and have low costs associated with maintenance or strata levies. It is also helpful if there are less other properties available for rent in highly desirable areas to create upward pressure on prices.

Areas with a wave of new housing supply are the best options for tenants as there usually is a downward pressure on prices. Suburbs such as these are not the best options for investors as there are long vacancy rates and an over supply of apartments. Usually a number of apartments settle at the same time and they all go to market at the same time creating an over supply. This is occurring in suburbs like Zetland and Ryde where developers have created a tonne of apartments which has also effected greater Sydney’s rental prices.

According to the latest quarterly Domain Rental Report, median weekly asking rents for homes has dropped $25 to $525. Low vacancy suburbs for units include Kirrawee, where rents have risen 8.7% to $500, darlington, which increased 8% to $540; and Glebe, which rose 7 % to $534. The trend the suburbs have is they are all close to amenities like rail, good schools and are located close to Sydney’s CBD.

Properties which still have room for capital growth and increases in rental yields which are not located within construction boom areas and have good amenities whilst be closely located to the CBD are situated in areas such as Glebe, Annandale, Darlington and Leichhardt. The Inner West is a good pick for any investor.

If you are looking to buy, sell or secure a property manager for your property please give us a call on 9 357 4086

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Choosing a real estate agent

Being a good real estate agent (sales) boils down to a few simple things.

The most important things is COMMUNICATION

If a real estate agent is hard to get a hold of or does not return calls, this is a red flag. Good real estate agents answer their phone no matter what they are doing. The agent must be ready to receive enquiries from potential buyers and negotiate the prices. If they are hard to reach then this process will be much more difficult.

They NEVER switch-off

Agents who don’t answer their work phone after 5pm do not deserve your business. Good agents must be contactable (at a reasonable hour) outside of work hours.

They are empathetic to your situation

A good agent should be able to put themselves in the shoes of the vendor and sympathise with their reason for selling and take initiative to achieve the outcomes and expectations that the vendor has.

They keep you well informed

A high quality real estate agent will call you….a lot. They should have you updated every step of the way.

When selecting an agent ensure they are proactive, energetic and receptive.

If you’re looking to sell or would like a sales appraisal please call us at Prestige Property on 9 357 4086

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Would you buy a $10 million shell?

This remarkable 2-level penthouse apartment currently sits high above the Coca Cola sign in the Zenith building in Potts Point.

The penthouse has over 600 sqm in combined outdoor and indoor living. It presents an amazing opportunity for a buyer with imagination who can use this blank canvas to design and build their wildest dreams.

The apartment has 360 degree views of the city, a number of balconies and floor to ceiling glass.

If you have a spare $10 million grab yourself a bargain today.