10 Reasons Why You Need to Buy Property Right Now or Miss Out.
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Between supply issues, low vacancy rates, a rising population and large infrastructure projects moving skilled workers away from property construction, property investors in Australia are being hit with many challenges in 2024 and beyond. In this video Jason Whitton explains these issues and lists the top 10 reasons why you need to buy property right now before the market changes completely and you miss out on hundreds of thousands of dollars in growth. Let’s Wealth Coffee Chat!
03:25 Show starts.
05:30 Supply is a major issue: supply of new and old properties are down 40-70% in 5 years.
08:32 Australia’s population has risen over 700,000 people and vacancy rates have dropped to 1%.
10:55 Costs to deliver a new property have risen by 30-40% in the last two years.
12:30 7,000 rooms are short for student accommodation in Australia.
14:30 Lending for developers is reduced and banks are reducing their Loan-to-Value ratios.
16:23 Large scale construction projects are moving skilled workers away from property development.
17:10 The 10 reasons you need to buy property right now before the market makes it harder to buy.
19:37 Closing thoughts: The key issues that provide challenges to investors in 2024 and beyond.
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