Researchers from SQM Research predict a softening in rental prices over a range of different localities across Australia could indicate that there are a large number of first time home buyers making purchases.
Data indicating the prevalence of first time buyers in certain areas can be useful to property investors who are looking for areas that are most likely to offer a good return for their money.
When rental prices drastically rise or drop in a certain location, it can sometimes be directly related to the number of people in the area who are choosing to purchase their first home. When the economic climate is favourable and interest rates are also low, first time buyers are more likely to start looking for a home.
Andrew Wilson, senior economist with Australian Property Monitors suggests that current upswings in first time buyers in some areas could also be linked to various state schemes that have been deployed in the hope of enticing buyers into the market. He says that softening rent prices could be linked to a direct hangover from these attempts to encourage new buyers.
Being able to analyse the property data and figures available is an essential skill when it comes to making money from an investment property portfolio.
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