Knowing the extent of the returns you can expect from your investment property in Box Hill is a good place to start, especially if you’re new to the market. The latest Pain and Gain report from CoreLogic RP Data could prove a useful resource, as it shows just how well investment properties performed during the first three months of the year.
In the City of Whitehorse region, 96.3 per cent of homes were sold on for a profit. Once the sales had been completed, a median profit of $450,079 was achieved.
Interestingly, Whitehorse investors typically hold on to their properties for 12.6 years before selling them on for a profit. This compares to the national average of 10.3 years for houses and 9.1 years for units, showing that Box Hill investors are likely to be in it for the long haul.
The researchers found that homes that had only been held for a short period were more susceptible to loss, showing that a longer term approach to investment might be the preferable option.
In the City of Whitehorse, the average hold period on a loss-making property stood at 3.4 years. On a national basis, a typical house which resold at a loss had been owned for 5.7 years, or 6.3 years in the case of units.
Mark Edwards and his team have years of experience helping people find investment property – and you could be next. He has plenty of local knowledge that will assist you in finding a home that’s in the right area for your needs, and within the budget you have set yourself.
Our experienced real estate agents in Box Hill will listen to the criteria you want to fulfil, before moving forward and finding a home that will suit your requirements.