Investing in property is a great way to build your financial freedom. The Perth property market has historically shown that property values increase over time.
There is no set ‘right’ or ‘wrong’ time to invest in property – it is all about your time in the market, rather than trying to ‘time’ the market. In all cases, when considering an investment, the crucial factor to consider is your financial circumstances.
In the last few years, the Perth property market has continued its upward trend, a great example of which is the trajectory in the latter half of 2020. According to REIWA, Perth’s market is expected to grow by a staggering 15% by the end of 2021. Ongoing demand for property in Perth may therefore see an excellent return for smart investors.
It’s always a good time to invest.
The question is not when but for how long you are in the market. The impact of COVID-19 has changed the way people work. Workplaces and offices are seen as high-risk environments and the sporadic lockdowns continue to force many organisations to work from home. If this ends up being a permanent change, many may start to consider relocating to places that offer lower cost of living and a better lifestyle over a close commute to the office. This new possibility has created good opportunities for future property investors willing to venture further afield.
So, should you buy an investment property in 2021?
If you are interested in growing your investment portfolio and you are looking for long term capital growth, then property remains a reliable choice. Whilst all investments carry some form of risk, property prices in Perth remain solid and interest rates remain at a record low.
Depending on your circumstances, 2021 may be a great time for you to invest in property in Perth.