Anyone who has been on the prowl for Bentleigh real estate will know that prices have been on the up. In fact, Melbourne's housing scene has been searing hot, and is the second fastest growing property marketbehind Sydney. QBE's Australia Housing Outlook 2015-2018 report showed that surging activity from investors, as well as a high level of migration has pushed property demand to unprecedented levels.
Selling off your Bentleigh real estate in such a climate could result in huge capital gains. For some, however, the prospect of owning your own home can seem slim. The government has been busy trying to limit and curb this price growth by targeting investors. Restrictions on investment lending have been enforced to make it more difficult for this type of buyer to enter the market, and allow more room for owner-occupiers. But is it working?
A 23 November release by CoreLogic RP Data shows that three months ago, more than 50 per cent of all financing was for investment. However, as the aforementioned government countermeasures have been getting tighter, the tables have now turned. The value of owner-occupier mortgages are greater than investor loans, and this trend is not looking to stop anytime soon. There are a few rippling effects from this.
Fewer deep-pocketed investors in the market mean less competition for you if you're buying a home to live in. As QBE's report has forecast, this will help to cool price growth down over the next two years and repair housing affordability.
If you're looking to settle into real estate in Bentleigh, more and more opportunities are opening up. With fewer investors to contend with, you could find yourself being able to snatch up a property for a great deal. Give Ray White Carnegie a ring and we'll show you a great range of housing options for you.