A top Australian real estate agent has revealed his biggest tips for property investment and the one area he always recommends buying into as its prices ‘never go down’. He said the eastern suburbs market has remained strong thanks to supply and demand despite recent price drops.
He also revealed his three key pieces of advice for wannabe-investors including always purchasing homes near the beach, only buying units with scope to own the whole strata building and never intending to sell.
Gavin Rubinstein, founder of The Rubinstein Group and star of reality TV program Luxe Listings Sydney, told The Daily Telegraph he has purchased all of his investment properties in the New South Wales capital’s eastern suburbs and said he would never buy out of the state.
Gavin has made a name for himself buying and selling homes in Sydney’s affluent eastern suburbs where all of his own real estate is contained. The luxury real estate agent said, despite its peaks and troughs, the trend in the area has consistently ‘continued to go up’.
He said buyers have a strong demand for the limited amount of properties with a ‘cosmopolitan lifestyle’ close to both the city and the harbour found in Sydney which is a ‘key driver’ in the local market.
‘We saw increases anywhere between 30-50 per cent in the eastern suburbs and what we’ve noticed is somewhere between 10 and 20 per cent of a level out from that peak,’ he said. ‘If you do the maths, we’re still ahead and there’s still a lot of depth to the marketplace.’Gavin prefers to buy within New South Wales when building his property portfolio rather than venturing interstate.
Gavin shared his top three investment tips suggesting buyers always shoot for properties that are close to the beach. He recommended buying units with the potential to own the entire building over time to add value and increase your income.
His third rule is to view investing like a ‘long term play’ and buy with the aim never to sell. The TV agent also suggested speaking with accountants to get to know the full list of tax advantages you are eligible for.
‘Don’t be afraid to make an offer on a property if it’s not in line with what’s being presented. I base it around the evidence and facts of what is trading today as opposed to what traded six months ago,’ he said.