With interest rates hitting record lows this month, down to just 2.75%, it’s no wonder buyers are out in force bringing Victorian real estate sale and auction figures up significantly from the same time last year. We’ve reported several times recently about the advantages of buying in the present market conditions; however, we thought it might be worthwhile to share another poignant fact about the Bacchus Marsh real estate market.
RP Data has released some very interesting figures. The median house price in Bacchus Marsh (as of February) is $461,396, while the median Bacchus Marsh rent is $400/week, with a 5 year average annual change of 3.3%. Bacchus Marsh’s gross rental yields are now at 4.3%. With rental yields high and interest rates at a historical low, all these numbers add up to one very big opportunity for anybody thinking of buying an investment property in Bacchus Marsh.
Naturally you will need to borrow and invest wisely to ensure you make the most of current conditions. We suggest you speak to a financial expert to discuss the best mortgage for your personal situation; and that you visit us at Professionals Arbee Real Estate to determine the best available property options for your investment needs. However, with the right advice, now is a great time to begin – or add to – your investment portfolio with remarkably little impact on your cash flow.