Off the back of Australia’s biggest property market decline on record, first home buyers that previously felt getting into the market was out of reach are now starting to see that it is possible. Some investors are also seeing the opportunity, and wondering if they should be trying to jump in and pick up a bargain.
, even with the high interest rates today isn’t nearly as expensive as most people think, with the average cost of owning an investment property worth $500,000 coming in at $14,641 per annum. You might be wondering why on earth anyone would bother buying an investment property if it’s going to cost you almost $15k a year, and it’s a fair question. The income and costs of an investment property are only one half of the picture - the other half is the growth in property values over time. In Australia the long term growth rate of the average property is 6.3 per cent per annum. This means that the expected growth on a $500,000 investment property should average out around $31,500 per annu