Melbourne and Sydney are fantastic places for people to buy property in. They continually show strong capital gains and are only going to become stronger places to invest after the Brexit, especially with some commentators predicting a decline in the UK property market.
CoreLogic RP Data suggests that Australia’s two largest cities, and those that are also the most expensive to buy in on average, are the best places to spend your investment dollars.
Low doc loans are the perfect way to access funding for a property purchase if you don’t have all of the required documentation that a typical lender would demand – a bank, for example.
At Redrock, we cater to people with unconventional needs, such as business owners who don’t have piles and piles of account records, and even those with irregular incomes.
For all people taking out a low doc loan, Melbourne and Sydney are cities that offer fantastic potential for strong returns down the track, which points to the cities as destinations for investment.
Making your investment count
Melbourne and Sydney offer fantastic potential for strong returns down the track.
Ever since the global financial crisis of 2008, Sydney and Melbourne have out-performed the rest of the capital cities in terms of value growth in the property sector.
A CoreLogic report from July 18 shows that in the nine years gone by since the GFC, Sydney’s dwelling values have increased by 87.9 per cent. That’s a whopping figure, even compared to Melbourne, coming in second place, with a 71.8 per cent rise.
As of June 30, the median dwelling value in Sydney sat at $996,140, which was a rise of 11.29 per cent over the past 12 months. For Melbourne, the dwelling value was $803,290, which represents a rise of 11.52 per cent over the last year.
Act now and buy in one of Australia’s two biggest cities.
Whether you choose to buy in Melbourne or Sydney with your low doc home loan, you can rest assured that you’re highly likely to see capital gains in the next few years. That’s what investment is great for – making money.
The CoreLogic Pain and Gain report from the March 2016 quarter shows that 97.8 per cent of Sydney houses sold for a gain in the first three months of 2016, while Melbourne wasn’t too far behind, seeing 97.6 per cent of sold houses pulling in a profit.
To give yourself the best chance of success on the property market, and potentially make a lot of money along the way, act now and buy in one of Australia’s two biggest cities. Redrock is on hand to help out, so contact the team today.