According to Scott Keck, veteran property expert and managing director of property group Charter Keck Cramer, if you want a good investment grab an inner urban apartment or townhouse:
â€œPopulation growth and demographic change are going to exert extreme demand pressure on apartments and townhouses, and if appropriate for higher density [redevelopment], relatively small sites from 1500 square metres up to much larger sites can be relied upon to provide handsome returns. I expect that typically growth for candidate sites could be 50% to 75% over the next two years.â€
– Scott Keck
If you really want a good buy, Scott recommends offering all that property sellers are looking for:
â€œIf you offer very short cash, absolutely unconditional terms and make the sellersâ€™ problem go away you are likely to get a very big discount.â€
It’s a tough market to sell in at the moment, so if a property has been on the market for a while, or if the seller needs an urgent sale, then an unconditional offer might go down a treat. So make sure you’ve got your finance approved before you go shopping.