It’s human nature that whenever you set out to achieve anything in life, whether it’s becoming a successful property investor or something else, that whenever you set a new goal for yourself there are often some ‘unexpected hurdles’ that show up to test you.
This is why I am so impressed with our property investor clients so far in 2017. No matter what hurdles are in front of them, they continue to move forward towards turning their property investing goals into reality while gaining valuable knowledge and experience about themselves and the property market along the way.
Over the coming months, I will highlight some of our clients’ success stories in this newsletter so we can share and celebrate in their success. If you have something that you would like to share with our community – what’s been working for you – lessons learned – challenges you have overcome – be sure to get in touch with the team because we would love to hear from you.
Sydney Hits $1.1 Million Median House Price
As you are probably aware, the median house price in Sydney has hit $1.1 million. I am often asked about what does this mean for investors, first home buyers and the market? I am also asked, what is the NSW and Federal Government doing to make housing more affordable in NSW and where can we capitalise on this opportunity?
Late last year I introduced and shared with you one of the initiatives from the NSW Government to help address housing affordability called “The Missing Middle”. The Missing Middle is a set of proposed new planning code and design guide regulations to encourage more medium density housing to be built in existing suburbs across NSW.
These proposed Missing Middle code and design changes are designed to fast-track the medium density development approvals process, ensure consistent and quality medium density developments while addressing housing affordability in NSW.
What this will mean for existing land holders and those looking to invest into NSW remains to be fully played out, but it will definitely have an impact on property values. We see this Missing Middle State Government push as one of the big upcoming property opportunities, that if finalised will cause a shift in the property investing landscape across NSW.
The team and I have been monitoring this affordability push closely as it gains momentum and continues to move through the various stages of NSW Parliament from draft codes and design guides released for discussion late in 2016 to potentially being gazetted and becoming law across NSW.
As this is such an important new development for NSW and anyone planning on investing in NSW for that matter, we will continue to monitor these developments and I’ll continue to share my thoughts on this in greater detail with you via a series of blog posts and newsletter updates as they come to hand. I may even put together a Missing Middle webinar update for you if there is enough interest here, as I expect there will be.
When Is The Right Time To Start Property Investing?
As you would imagine, I am often asked about the best time for property investing and when should I make a start? As you would also expect, there is no one answer here other than to say that there are property markets and investing opportunities big and small right across Australia. Just as there are first time property investors right up to experienced ones looking for bigger property deals.
One of the things about Plan Assist which sets us apart, is how we work with you on your individual property investing journey because we will never try and put you into a ‘property investing box’ that only has one or two options for you.
At Plan Assist we take the time to get to know you, find out where you are at, your property investing goals and from this understanding help you find what you want. We work with you to achieve a one-of-a-kind property investment solution that’s tailored to meet and fulfil your property investing goals.
If you are interested in preparing or starting your next chapter in your property investing journey, I’d encourage to reach out and connect with us here at Plan Assist, so we can help get you started with the right advice to fast-track your property investing success.
Here’s to a super successful 2017.
CEO – Plan Assist Property Team