Property investment has long been regarded as one of the most effective means to create wealth, especially in Australia where real estate markets continue to stand strong despite unpredictable finance and socioeconomic movements. Can everyone succeed in this venture? Pure Property Investment’s Paul Glossop believes that responsible lending and a unique demographic position puts Australia on top of the list of ideal places for property investment.
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In fact, contrary to doom-and-gloom headlines claiming that property bubbles are about to burst soon, the actual current state of major markets across the country indicate a strong landscape for property investment highly driven by a robust nationwide economy. “Our LVRs are sitting sub-25 per cent as a country. When we’ve got banking restrictions that don’t allow people to effectively walk away from debt, and there’s a lot of ramifications down the track, that’s going to leave us in good stead,” according to Mr Glossop. Moreover, Australia’s proximity to the Asian region plays a big role in the increasing demand for dwellings. The attractive lifestyle evident across states and territories—boasting a unique blend of cultures—continues to attract tourists, students, professionals and migrants.
The consistent growth in population certainly keeps the property industry alive, the buyer’s agent said. He highlighted: “You’ve just got this unique blend of people in Australia and the way that the country is growing and shaping … it’s got sustainable forecast for growth. People want to live here.” “It doesn’t matter where you live in Australia. It is a fantastic place to live and there’s always going to be a desire to move here. That will be a factor that drives the growth,” according to him.
As good as the Australian property market sounds, Mr Glossop strongly encouraged budding investors to do their due diligence and continue educating themselves through the different resources available to them. For him, it is highly critical to take on a holistic approach to property investment. While it’s helpful to be driven with a goal, investors must be diligent and accountable from the initial consultation to the acquisition and management of their assets.
Having spent years as an investor, creating a substantial portfolio for himself, the buyer’s agent understands the importance of being backed by the right information from a trustworthy team of professionals. Aside from utilising free resources such as websites and podcasts, he advised investors to engage field experts who can guide them through the changing investment landscape. This partnership between investor and mentors is one of the most important keys to property investment success. “If you’ve got other people that can layer in this opportunity and the insights you get, it makes you so much more empowered and geared towards getting a better outcome and becoming a better investor,” Mr Glossop said.
After building a strong financial foundation for himself, he sets out to help other investors create wealth and achieve financial freedom as the founder and director of the award-winning buyers agency Pure Property Investment, giving tailored advice that will best suit the investor’s personal goals and financial circumstance.
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