Have you been debating over investing in property vs saving your money in the bank?
Let's explore the facts together
CoreLogic, largest provider of property information, analytics and property-related risk management services in Australia and New Zealand, released this chart summarising the recent price correction. It is a chart which included the recent price corrections.
Looking at Melbourne, prices has dropped 11.1% since peaking in late 2017. Despite this, it is still 23.5% higher than what it was 5 years ago.
What does that mean?
Imagine, if you had $50,000 5 years ago, and you put that into a savings account, it will become $52,550 in 5 years, at a very optimistic average of 1% interest pa.
If you had invested this $50,000 into property 5 years ago, your $50,000 would have turned into a $61,750 investment. I.e., the $50,000 would be worth a massive $9200 more!
So, would you invest in property? If you have the serviceability, why not? But you need to get the right property at the right location.
Have a chat with us. We can help you achieve your real estate investment goals.
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