Mortgage broker RAMS have released their First Time Investor Survey 2014, and the findings are extremely interesting for anyone looking at property investment in Sydney.
While 76.3 per cent of those surveyed are not stressed when it comes to gathering information for their first investment property, almost half are worried interest rates could jump. Others expressed concern over a tenant's ability to pay, destructive renters and poor property managers.
However, with the interest rate remaining low and investors having an increase threshold of up to 2 per cent before feeling uncertain, the survey expects investor demand to stay strong for the next year or so.
What's not to like? Well...
First time buyers have also identified their pet peeves in real estate listings, with exaggerations on property descriptions topping this list. Phrases they wished to be outlawed include 'hot property', 'water glimpses' and 'renovator's dream'. Despite this, 38 per cent of people surveyed still prefer to go to a real estate website for help with their first property. Buyers agents work with you as the buyer, helping you find a property that best suits your needs.
The RAMS survey also notes that first time buyers and investors are preferring to move away from the CBD, instead opting for established houses or apartments in quiet suburbs, with quality fittings and regular public transport nearby. Our agents work extensively in these areas of Sydney, notably in the inner west suburbs such as Ultimo or Summer Hill.
If you would like an agent representing you who works for your best interests, you are welcome to contact us today. We have a wide range of excellent properties all across the inner Sydney suburbs, and are confident we'll find the right one for you.
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