The total value of the property market in Australia has increased dramatically in recent years, after a brief pause in growth in 2008 caused by the world wide Global Financial Crisis. Year on year since June 2013, the average price of housing in Sydney has increased by fifteen point four per cent, with the average property prices in Melbourne not being far behind in terms of year on year growth at nine point four per cent, data shows. This growth is being primarily led by an increase in levels of property investment, rather than factors such as population growth. Australians have had a historical love affair with investing in property, with levels of investment in real estate here greatly exceeding the international average. With the Global Financial Crisis denting international confidence in stock markets and complex financial products, investors throughout the world are discovering a similar love for real estate investment. Australian real estate in particular, due to Australia’s comparative economic strength and relative political and economic stability, is becoming a favourite for international investors, many of whom are purchasing Australian real estate investments through buyers agents, who help them navigate the differing legal and property market context of the Australian real estate market.
Although a buyer agent real estate agency may be particularly ideal for an investor purchasing property from overseas, a buyer real estate agent is ideal for many types of buyers. A buyer specialist real estate agent essentially acts as the buyers advocate in Melbourne, because, unlike a traditional real estate agency model, the real estate agent is only representing the interests of the buyer, not of the vendor or another party. It is important to ensure, however, that you are dealing with a genuine buyer agent. Some real estate agencies will advertiser themselves as a buyer agency while actually conducting activities for vendors, either under the same name or in a related business. It is also worth checking if your real estate agent is a member of the relevant state or territory real estate association: for example, in South Australia, REISA, the Real Estate Institute of South Australia.
If you do acquire a real estate investment, then a property management firm can possibly be the ideal solution for the ongoing management of your investment. A property management in Middle Park acts as the liaison between a land lord and tenants, handling such things as renting out the property, maintenance requests, and the like. For investors who live away from the location of their investment, or who simply live a busy life, a property manager can save much time and hassle. Please do not make any investment decision on the basis of this general interest article. This is not professional advice, and should not be considered a substitute for such. Obtain your own independent advice prior to making any financial decision.