Weekly Video Finance news summary (2 mins)May
2
2010
Property market on the rise makes investors return
Author: nobelfinanceConsistently high clearance rates and positive data from the Australian Bureau of Statistics (ABS) are pointing towards a consolidation in the housing market.
ABS figures released last week show that finance commitments, excluding refinancing, were at their highest level for the past 18 months.
Real Estate Institute of Australia (REIA) President David Airey the ABS figures were a strong sign of a healthy property market ahead.
“Other positive signs are the increasing level of investors in the market and the first signs that the influence of the first home owner grant boost is beginning to abate,” he said.
The value of investment housing commitments rose again in June, following increases in each of the previous three months, the number of first home buyer commitments as a percentage of the total also declined, according to the ABS.
Now could be the time to put more value into your property.
According to local real estates agents, the most common renovation that gives the most value to a property is the kitchen and bathroom. A few dollars spent in these areas can really make a difference in valuation for lending purposes or for re-sale value. Most buy – reno – sell investors also focus on giving the home extra features like built-in cupboards.
Some trade businesses , like Emporio Kitchens, have caught onto this trend and offer a one stop shop to take care of the electical, plaster & plumbing if required, for inquiries made on their website. Take advantage of their no obligation free quote service, what have you got to lose ? You might be surprised what a few dollars spent on key areas can do to the value of your home or investment property.
