The property market in Geraldton is looking to be in something of a slump. With property prices stagnating, experts are predicting a fall in the average house price by the end of the financial year.
This slump is evident when you look at the rental market here. Houses that a year ago, were pulling in $400+ per week are now struggling to get $300 – and that’s if they can get anyone at all.
Demand for rental properties in Geraldton over the last 12 months.
So it’s evident that if you’re renting out a home in Geraldton, you are in a growingly competitive market.
This doesn’t mean that it’s not still possible to get a decent income (or sale price) from your property – It just means that you’re going to have to make an investment to stand out.
How can I make my property stand out?
Well, there’s two ways to do this…
Renovations can be done well at relatively low cost. It’s all about dressing your home up for street appeal – if you can ‘wow’ people before they come in the door, then half the battle is already won. Of course, if you have limited capital for investment, then you will have to choose carefully exactly which areas you’re going to focus on.
It’s well worth speaking to a home renovator who can give you some advice on how to maximise your investment and give you a quote.
As a rule, generally the more room your property has, the more money it will be worth. So an investment in extending the home to have a extra bedroom / bathroom can really pay off.
Again, if you speak to a home improvement specialist then they can give you a good idea of how you can increase the value of your property by adding extra room.
It’s a buyer’s / tenant’s market in Geraldton at the moment, and if you want good money then you will have to take action as soon as possible.
If you want to find out more about making your property stand out, give Christian Ferraloro a call on 0427 907 072 – His business, Home Additions & Improvements adds value to homes all around Geraldton.