Over the last 30 years, Metricon has built thousands of superior homes for home buyers. With high demand for rental properties, the time is perfect for individuals wanting to invest in property.
General Manager of Marketing – Darren Mehl suggests that buyers are now currently in a fortunate position due to spiralling interest rates.
“For many the gap between paying rent and servicing a home loan is narrowing. The Commonwealth bank's figures show it is now cheaper to buy than rent in 74 different suburbs and towns across Australia. First Home Buyer's have a perfect opportunity to enter the property market with the increased Government Grant. And for those wishing to build their first home – Metricon is currently topping this grant up to $42,000,” Mr. Mehl suggested.
“The story is also bright for individual's looking to invest. At Metricon all of our display homes are for sale. The opportunity to purchase our display homes with an attractive lease back arrangement of 8% per annum together with tax depreciation benefits makes many of these investments cashflow positive.
With interest rates at an all time low, our display homes are a great investment. Metricon covers the expenses of rates, gas, electricity and insurance for the term of the lease. There are a number of Metricon displays for sale in premium locations across metropolitan and regional Victoria, showcasing Metricon's latest designs including recent award winners,” offered Mr Mehl.
Industry figures indicate record percentage growth within Australia's population and therefore demand for housing has boomed. The HIA released figures early this year highlighting two factors for this demand – very strong immigration and the decline in the number of individuals per residential dwelling.,/p>
“Research figures confirm that in 2009 - 90,000 new dwellings are forecasted to be built in Victoria alone, which is 10,000 less than required. Immigration figures are expected to reach a record high of 230,000 this year which makes Metricon's investment opportunities an ideal solution to keep up with this demand whilst also generating positive capital growth and rental income,” concluded Mr Mehl.