We hope everyone had a great time at 2020 Vision!
Last week Asset Reports and CoreLogic hosted 2020 Vision - an informative evening that asked 'What will future Property Buyers think when they look back at this point in time as a buying opportunity?'
We heard from Damian Collins (Momentum Wealth) about the benefits of collaborating with buyers agents for properties in key areas, while Tim Lawless (CoreLogic) provided an insight into the Perth property market and a forecast of the economic and population growth for WA.
Some key statistics from Tim’s presentation include:
Perth now has the lowest median house value of any capital city in Australia (below Hobart, Darwin and Adelaide!)
Investors comprise only 15% of mortgage demand in WA, the lowest of any state
Strengthening rental conditions and higher yields could support an improvement in investor activity
Relative to investor mortgage rates, rental yields are looking very attractive in WA
New housing supply has fallen significantly, with detached house commencements the lowest since 2001 and unit commencements the lowest since 2012.
Population growth has been trending higher as interstate and overseas migration improves.
We also heard from property analyst Gavin Hegney, who gave an engaging presentation touching on the changing behaviours of each generation of property investors. Gavin noted that Aspen Group is buying 84 residential homes in Perth metropolitan growth areas for $20m. He challenged the audience to question where we feel we are in the property cycle right now, prompting everyone to consider if it is time for investors to get back into the market?
The question then is, where do you find investors in this market? John Williams from Asset Reports shared a chart showing the number of investors owning 1, 2, 3 etc investment properties. From a marketing perspective, it’s much easier to tap into your existing database of clients and convert one-time buyers into repeat purchasers. That database is your rent-roll. A phone call to each of your owners to do an annual Health-Check on the performance of their investment property could lead you to ask the question: “Are you considering buying another investment property?”
The event was concluded with a robust Q&A session where the Damian addressed the State Government announcement about Stamp Duty concessions and how REIWA and major property industry groups have come together to get some change in the property market - with more to come!
Thank you to Aperture22 for the photography on the night.
Thanks again to all of our amazing sponsors!
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