It’s no secret that property prices in Mount Gambier and the Limestone Coast have been on the rise over the past few years. If you’ve been considering investing in a property in Mount Gambier, now is an excellent time to act.
Why invest in property?
To begin with, investing in property is almost always a strategy that pays off. Real estate prices generally increase in the long run, so investment properties are one of the safest and most guaranteed ways to make money over a long period.
Along with this, consider these benefits:
- You earn rental income from your property, which offsets the cost of the loan
- There are tax breaks and benefits
- Property creates equity that can be used to buy more property
- Property is the ultimate diversifier because it rarely correlates with other investment strategies
Why invest in property now?
If the wider benefits of investing in property above aren’t enough, there are also some convincing reasons why now is the time to invest in Mount Gambier.
The worst fear for property investors is to be stuck with an empty rental property. In the current real estate climate, this outcome is almost guaranteed not to happen. This is especially the case because rental prices are rising in Adelaide; the low number of vacancies will encourage some families to relocate to more affordable locations.
There are plenty of tenants for rental properties, so if you can secure a good quality rental property you should be able to generate a good yield/rental income, which will help you pay down the loan sooner.
Find a quality tenant and look after them well, and you can look forward to many years of passive income while your property quietly increases in value.
What about interest rates?
Don’t let all the talk of interest rate rises scare you off. While it’s true that interest rates are rising, they are rising from an all-time low, so even with the gradual hike, they are still relatively good compared to previous years.
Lenders are also competing for clients, so finding a quality loan with good features is easier than you might think.
A mortgage broker can help you to explore your options in terms of taking on an investment property loan. As always, seek professional advice about your financial situation if you are thinking about investing to ensure you are making the right decisions.
Why invest in Mount Gambier?
So it’s a good time to invest in property, but what about the market in Mount Gambier? As it happens, it is an excellent time to invest in and around the Limestone Coast.
For one thing, regional property prices have risen considerably over the last year but the market is now steadying. This means you will get good value for money if you make a purchase in 2022.
Mount Gambier is also on the map as a preferred destination for ‘tree-changers’ who have the flexibility to work from home and want a slower pace of life. Many people are keen to rent in Mount Gambier before they buy, which makes owning an investment property in the area a safe bet.
Our area is looking forward to growth; as shared on plans.sa.gov.au, the main growth area in the Limestone Coast region over coming years is expected to be Mount Gambier.
As shared recently by our local MP Troy Bell, Mount Gambier appeals to new residents because of
– High liveability factors
– Short commute times
– Housing affordability
– Improved airline accessibility
– Open spaces and natural environments
– Proximity to Melbourne and Adelaide
– Excellent rainfall/soil profile for agriculture/industry
– The regional relocation boom from Adelaide and Melbourne
– The town’s strong community
Find the right investment property in Mount Gambier
We can help you to find the best property for your investment, and as experienced local property managers we will take care of all the heavy lifting to keep your property maintained and occupied by reliable tenants.
Looking for quality real estate professionals to help find or manage a Mount Gambier investment property? Contact us today.