Depending on your state or territory, housing availability is limited. The family growth rate is outpacing new home construction, and prices are in orbit. The construction labour force is underdeveloped for this surge and will take years to catch up. Even government construction schemes have fallen short of incentivized goals. To find your home, you look full-time, or hire help.
On average, homes stay on the market for less than one month. That isn’t even long enough to read about it. Be in the market and ready to buy because someone else is. Homes in the outer suburbs of Sydney spend the least time on the market. Every home picture I see has a “sold” banner across it.
Effective property investment in Sydney must include working with professionals. Look for offices and agents who have long-standing relationships in the industry, and local business, legal, and registry connections to make real estate transactions smooth.
Sydney’s districts of Campbelltown, Wolli Creek, Liverpool, Schofields, Fairfield, Parramatta, and Merrylands post rental yields above 5.5%. Over 53% of our population are renters.
We move every five years, due to a work, life, or family change. The employee/employer relationship is transactional. We are trending away from long-term employment with one company, and have been for years.
Hybrid and remote work options are increasing since the pandemic taught us, we don’t need to be in the office.
- Companies are saving on infrastructure, entire departments of employees to maintain them, and the services to support you and me. They also are recording much higher production from remote workers, contrary to expectations of distractions and laziness.
- By working remotely, we gain freedom of schedule, comfort, flexibility, and job satisfaction. We save on transportation costs and lost time. We can shed the tension of controlled work environments.
In this fast-paced real estate market you have to be quickly funded. Smart people shop and compare. When dealing with real estate financial figures, every point counts.
- Check with your bank for any comprehensive investment property loan programs. If you are invested in the bank, you may receive better mortgage rates and discounted processing. Mostly I look for how I am treated as a person.
- When shopping private mortgage lenders, look for a proven track record. They are subjected to the same lending laws as banks. Due to their ability to sell your mortgage on the secondary market to a wider variety of investment funds than banks, they offer more flexibility on loan, property, and financial criteria.
The secondary mortgage market is where major investors buy bundled packages of similar loans as long-term investments, and the banks service the account. This frees up bank and private lender money to take on more lending, build more projects fund more grants, etc.
All of this is tightly regulated and monitored for fraud and predatory practices by several commonwealth, state, and territory bodies to ensure your safety, and the safety of your financial investment.
