Just a quick update on East Coast markets, which I found interesting;
Cairns has been tipped as a great point of investment, once again.
Often being referred to as a ‘playground’ for Millionaires, especially Australians, investments are typically for enjoyment rather than return. However, recent figures suggest prices are up around 6% and more in certain areas.
Further, the Gold Coast has had it’s third consecutive price rise in as many months and the tip is, it is set to grow.
People who are concerned about the Sydney property market for purchasing, could consider the option of buying an investment in QLD and renting in Sydney. Although, the wise decision, in my opinion is to buy in Sydney as historically prices grow at a far greater rate in boom seasons.
The other alternative, if I can suggest, would be for people cashing out of multi-million dollar properties and downsizing in property or mortgage with a bit of spare money and no confidence in bank returns, to consider these alternative markets. It may be a good option to consider for those interested in tracking their investments.
Also worth considering, if you already own property in one of these hot-spots, sell!
Thomas Merriman.
Thomas Merriman 