IS THIS THE EARLY SIGNS OF A TURNAROUND?

IS THIS THE EARLY SIGNS OF A TURNAROUND?

Just when it appeared some investors were returning to the market, the Reserve Bank decided to raise interest rates today.

The last 3 properties we manage for rent which we have listed for sales have been sold to investors.

Each property had rental returns showing around 5% gross return but could not have been more different.

One was a 3 bed home, renovated about 12 months ago in the slowest selling suburb in the Rockingham area, another was a 2 bed old fashioned unloved duplex with common walls in what is traditionally our second most popular and upmarket seaside suburb, while the third was a 4 bed 1 bath in the lowest land value suburb locally.

The only negative is each of these homes sold for less than $300,000, confirming yet again Rockingham’s position as the lowest priced area in Australia within an hour’s drive of a capital city.

Ross Cutten
Owner/Director
Noble Real Estate