Investing in property is a great way to diversify your investment portfolio and, when done right, will unlock the doors to a more financially secure future. When you purchase an investment property, you can improve on it through renovations so that you can sell it at a higher price or hold onto the property and rent it out, generating regular income.
Keeping your property looking up to date and attractive is important, whether you’re hoping to sell or rent it out. Potential tenants and buyers are likely to pay more for a property that looks modern and appealing. As such, putting a little money into renovation projects can prove to be a wise investment.
Turns out, there is no “Australian Property Market”—each state tends to do its own thing. As you can see in the charts from CoreLogic, each state and city has achieved different results over the last eight years. Unsurprisingly, the highest growth was in Sydney and Melbourne, mainly driven by employment opportunities.
If you’ve bought a property for investment purposes, it’s important to maximise its value so you can make the most out of your investment, whether you’re planning to sell or rent it out.