The latest rental data shows different financial trends for renters and property investors, with opportunities emerging on both sides.
After rising steadily since 2021, rents climbed another 4.2% over the year to June 12, according to SQM Research, contributing to ever-higher living costs for tenants.
Conversely, property investors are benefiting from higher incomes and potentially higher yields as well.
If you’re currently renting and are thinking about entering the market, here are three tips:
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Maximise your savings. The larger your deposit, the more properties you’ll be able to afford and the less you’ll need to borrow.
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Be flexible. You may not be able to purchase your dream home right away. Consider buying in more affordable areas.
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Understand your borrowing capacity. Contact me if you want me to run the numbers for you, so you can get a realistic idea of what you can afford.
If you already own your own home and are thinking about buying an investment property, you might be able to use equity – rather than cash – to fund your deposit, depending on your circumstances. That will give you the opportunity to take advantage of market conditions, with both rents and prices rising in many parts of the country.
Whether you want to buy your first home or an investment property, I can ensure your loan matches your personal situation and financial goals.