Docklands Property Update

The federal Government’s decision to invest $1.5 billion to help first home buyers purchase a home is great news for Australians. I believe this strategy, coupled with the downward trend of interest rates, has seen renewed confidence in the entire Docklands market. At City Residential Real Estate, we have over twenty current listings in Docklands and at price tags of under $600,000 which is ideal for first home owners and investors.

We have seen a significant increase in activity in the property market as this year alone City Residential has sold over thirty properties in Docklands and of these, first home owners have purchased over 50% of these properties. With first home buyers in the market for purchasing property, the lower end of the market will be the main beneficiary.

The Federal Government’s decision to double the first home buyers grant for existing dwellings and triple it for new dwellings has also sparked the interest of property developers which has been great news for the area. This has allowed young tenants to break out of the seemingly never ending grip of the renting cycle. Over the past twelve months rent has continuously increased due to a shortage in rental properties available in all parts of Docklands. This has encouraged the first home owner to get out of the rental market and buy property while the investor can take advantage of high yields and low interest rates.

So first home owners get moving quickly to ensure you receive the funding support you need to get into the property market. For more information on all your real estate needs feel free to contact Glenn Donnelly (Managing Director) on 0419 998 235 or glennd@cityresidential.com.au or
visit www.cityresidential.com.au