In the days before the Easter break, more than 2000 properties were put up for sale all around the country. Why is this? Well, it seems that Australia’s property market has experienced a rare shift that only happens once in a generation.
According to reports, banks all around the country are going to notice a much lower number of people requesting home loans this year. The report states that lenders may notice figures drop as low as fifty per cent fewer as we reach a global financial crisis. So, is this a good thing or a bad thing? Well, good for some but very bad for others. First of all, this shift is going to be very bad for companies that offer property management in Brisbane.
Why is this? Well, it is the job of the property manager to manage a property owner’s portfolio. They cover inspections, bond and rental collection and many other aspects as well. Obviously, as there are less people investing in properties in the country, there are fewer properties to be managed. This means that companies are competing with each other in order to get business. For small businesses that offer property management in Brisbane, this is a very bad thing.
However, it is good for those who wish to invest in properties whilst the market is slow. Due to the fact that it is slowing down, prices are going to be a lot lower. This means that there are some great investment opportunities out there at the moment, and a lot of profit to be made. However, it would be very wise to get some investment property advice before coming to a buying decision. There are a lot of companies out there who will be able to help.
If you want property investment advice, then take a look at Templeton Property, a highly specialised residential property management solutions provider, and talk to some professionals who know the market inside out.