Investing in Tasmania?

[hrichmond]

Hello Everyone,

I live in Perth and thinking of investing in Tasmania due to very low prices after looking on Real Estate.com.

Has anybody gone down this path and if so would appreciate some advise on where to buy and if you can recommend the best way of doing this over the phone and internet.

Also any recommendations on Real Estate Agents,PMs,etc

Thanks
"H"

 

[Aceyducey]

hrichmond,

Low prices aren't the entire story - and remember they are relative....how much growth will there be?

Some questions you need to ask yourself:
Why are you buying property?
What return do you expect?
How long do you expect to take to get it?
Are you comfortable buying without seeing the places?
Do the numbers work?

Cheers,

Aceyducey

 

[geoffw]

Adding to AceyDucey...

I'd be looking at some demographics to help you make a decision.

Things like...

What's the rental demand now?
What's the rental demand in the future? Is the area you're looking at going to grow, or shrink?
What's the long term history of growth where you want to invest?

For instance, a low vacancy rate may mean an upward pressure on rents, and on prices. A lot of empty land may limit growth, as people can build cheaply. People moving out of an area can cause house prices to drop as supply outstrips demand. If an area has had sproadic growth (especially if it's only in the last year or two) it MAY indicate lower growth.