Paul Wrigley from Ray White Toronto agrees with the report issued by Real Estate Business Online that the number of property investors will increase as the year goes on.
Ray White Toronto’s Property Management department have been achieving some great rental dollars exceeding what they originally thought some properties were worth. This shows there is a strong demand for rental accommodation certainly in the Lake Macquarie area.
“Investor activity is expected to increase across the board, with all member survey respondents saying they anticipated growth in this segment,” First National Real Estate’s chief executive Ray Ellis said, following the release of the company’s 2011 Property Market Mid Year Update.
“The market is continuing to slow which is producing excellent opportunities for investors who should be taking advantage of low vacancy rates, strong returns, increased upgrader activity and easing bank lending criteria conditions.” Mr Ellis added that the biggest challenge facing the industry was uncertainty, stemming largely from concerns about the direction of Australia’s economy, and those of Greece and Japan, the fear of rising interest rates and unemployment, and doubts about future government policy. “As long as there is so much uncertainty and talk of policy changes, consumers will hold off making any major financial decisions,” he said.
First National surveyed 450 plus offices in both Australia and New Zealand.