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Investors are venturing back into the market, attracted by strong rental yields and an overall improvement in confidence and market conditions, according to rpdata.com Property Pulse.
RP Data’s national research director Tim Lawless said the return of investors to the market was delayed for several reasons.
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“Investor confidence had been eroded significantly – not just by the state of the global economy but also by the shock of seeing share portfolio’s plummet in value as well as the prophets of doom and gloom suggesting property values were likely to do the same,” he said.
However, Mr Lawless said investors who are confident to buy into the market now, are doing so at an attractive time.
“For those investors who are targeting properties priced over $500,000, competition in the market is comparatively light,” he said.
Moreover, Mr Lawless said as the deadline approaches for the wind back of the First Home Buyers Boost (the boost will be halved on September 1st and removed entirely on January1st), investor numbers are likely to gather further momentum.
