Point Cook real estate is proving to be a frustrating investment choice for landlords.
If there has ever been a suburb that struggled to deliver on its expectations it’s Point Cook.
While the real estate location of Point Cook is fantastic, just 25km from Melbourne centre with Port Phillip Bay frontage, the troubled road network and lagging infrastructure really slowed capital growth. In particular there are only two roads in and out of Point Cook and peak hour traveller’s report 20-30 minutes as standard times just to get on the freeway from Point Cook!
As a result of traffic congestion, the residents have been extremely frustrated and the appeal to new residents has been affected. On top of tenant apprehension to move to Point Cook, there has also been an oversupply of investment properties since 2010 and Point Cook has had one of the higher vacancy rates in Australia for a suburb of its size!
Sale prices for houses and units fell and then stabilised at the start of 2013 before recovering and growing at 4% since then. Rental prices for the most part stayed the same from 2011-13 and then rose by $10 per year since then.
The good news is that new investment property supply in Point Cook has slowed to such a point that tenant demand is finally allowing small rental increases for some of the more sort after areas of Point Cook.
While you should not expect radical short-term improvement in the Point Cook sale or rental market, signs are good over a 3-10 year outlook. The additional infrastructure that continues to slowly roll out will drive this improvement (e.g. Williams Landing train station).
The key message is to hold tight and resist selling unless you must. The key is to ensure your property value is thoroughly protected by your real estate agent and if you are already a client of ours you are in great hands.
If you need a Real Estate Agent in Point Cook who specialises in rental property management then give us a call.
Most agents lock you in for 60-120 days when you first join, we have no lock in contracts EVER.
Already with another agency? In as little as 48 hours we can arrange complete management take over. Transferring agents is FREE and it won't affect your current tenant agreement.