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What is Your Investment Property Really Worth?

By Sarah Vo

What is Your Investment Property Really Worth?

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Have you got an investment property and you’re not sure what it’s worth? Or has it been a while since you’ve received an up-to-date market evaluation?

Here at Ray White in Carnegie, we’re happy to help you find out your propery’s worth and assist you in taking the next step to achieve your desired outcome.

“A property is only worth what someone is willing to pay, with rental properties you are offering and providing a “product” which is the features, aspects, locations and benefits the home has to offer.

Currently we are seeing a shortage in rental properties in comparison to the larger than expected rental demand. Several factors such as an increase in building costs, new home development issues, interest rates increases and a return of international rental demand has created this market trend.” – Kevin Ljungberg (Business Development Manager | No.1 VIC/TAS 21/22).

When you reach out to our office, your first point of contact in finding out your property’s worth will be our Business Development Manager Kevin Ljungberg. Kevin will then create a current market evaluation of your property that you can keep. This will include an in-depth breakdown of any costs/fees that may incur throughout the management of your property.

Recently joining our Ray White Carnegie Business Development team is Nick Giannopoulos. We asked Nick since joining the Carnegie team, what is a current market trend he has noticed. “The biggest thing I’ve noticed in the market is the demand for 1-2 bedroom units or apartments is massive! With students coming back from overseas and with people now being able to go back into the office to work in the city for work.  People are offering more for rent or offering to pay rent in advance, like three or six months in advance, to get a property.  They are offering an extra $50 a week because they see so many people at the open for inspections and want to beat the competition. I had one guy the other week at the open for inspection offer me the whole year in advance.”

Once receiving your up-to-date market evaluation of your property, you may decide that leasing is the best step for you. Our leasing team will then assist you with the next step of advertising your property. We will hold weekly open for inspections and filter through the applications submitted for your property, before presenting the best possible applicants to you.

We asked Marc Fridman, a member of our Leasing Team what he is also noticing with the current market trends, and he said “The demand in the rental market in and around Carnegie is as strong and consistent as ever. The most in demand properties in the market have been the 1–2-bedroom apartments, these have been very consistent within the last 6 months with inspections attracting 50+ attendees and properties leasing out within 14 days of being listed. Houses and units have also been consistently leased out within a couple of weeks of being listed, often above the initial asking price. From an investors perspective there has never been a better time than now to capitalise on the market and seize the opportunity at hand.

So, if you have been considering leasing out your invest property, the time is now. With consistently large numbers of people attending open for inspections, and the massive influx of applications we are receiving, we’re confident here at Ray White Carnegie we can make leasing process an easy, stress free experience for you.

You can reach out to our office by calling (03) 9571 6777

Business Development Team:

Kevin Ljungberg | 0412 434 298 | kevin.ljungberg@raywhite.com

Nick Giannopoulos | 0490 264 833 | nick.giannopoulos@raywhite.com

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