Property Insights

Australians love buying property

In what has become a national obsession, our growing ‘passion for property' is reflected in the number of real estate websites, social groups, podcasts, and renovation shows increasingly popping up in mainstream media.

As a concrete vehicle for investment, it’s difficult to go past property. Meeting the basic human need for shelter, housing will always be a necessary part of life in Australia. For many owners, purchasing a piece of prime real estate to call home is also a fundamental expression of their identity and lifestyle.

While in the U.S around 90% of buyers choose to engage a buyers agent who will look after their best interests when purchasing property, recently an increasing number of Aussies are following suit. However, when jumping on board with this trend, one key consideration people often overlook is that buyers agents are a diverse group of professionals.

As you wouldn't entertain the thought of having a Podiatrist perform your open-heart surgery, engaging a buyers agent versed in your specific requirements only makes common sense. When choosing the best buyers agent for your job, make sure they have experience in your specific strategy and location.

Using a buyers agent for investment

For serious investors, success comes by nailing the numbers. When buying property, a buyers agent can help ensure you keep your eye on the prize and make the right decisions based on your future needs and goals.

Historically, as a favoured Aussie investment asset class, 'bricks and mortar' demonstrate a solid growth track record. The Aussie/CoreLogic Housing Trends report indicates that over the past 25 years, the median property value across the nation has risen by around 412%. This figure is nearly double that of the ASX All Ordinaries index of 261% over the same period.

For investors who want to cash in on similar growth or better, working with an expert buyer, experienced in strategy, research, and negotiation can optimise your overall results. The first step towards reaching your investment goals through a buyers agent is selecting a professional who is up to speed with your specific investment targets:

• Are they able to locate areas that will likely grow in value?
• Can they identify high-yielding properties that will be in demand by local tenants?
• Are they able to assist you with value-adding strategies such as renovation, retain and build or boarding house conversions, etc?

Choose a professional who has an endgame for your investment strategy and truly understands the lay of the land in your purchasing area.

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A professional property buyer at home

When it comes to buying your own home, often people instinctively know what they like and what they don't. Becoming emotionally invested in a prospective PPOR, however, can compromise your ability to negotiate. This is where a seasoned professional can step in and help make sure you don't overpay.

A further disadvantage facing amateur property buyers is that the best properties often don't even make it to market in heated or tightly held locations. A local buyers agent will have an insider network in these areas and can help you access 'off-market' properties and make a purchase ASAP.

When selecting the best person to make your dream home a reality, make sure they are very well connected in your chosen location and experienced in purchasing homes as opposed to investments.

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