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This is a great time to be a property investor, with the national vacancy rate falling to a 16-year low.
SQM Research has reported that the vacancy rate (the share of untenanted rental properties) in January was a very low 1.3%, down from a moderate 2.0% the year before.
Melbourne, Sydney, and Brisbane, which have the highest vacancy rates in the country, have seen their rental markets significantly tighten over the past year.
In the other capitals, vacancy rates have remained under 1%, which is incredibly low. That makes it very hard for tenants in those cities to find properties; conversely, it’s easy for landlords to find tenants and to justify rent rises.
If you want to build long-term wealth, I can help you buy an investment property. One big piece of advice is to get a pre-approval before you start your search: competition is fierce right now, so if you don’t have your finance in place you’ll probably lose out to buyers who do.
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