The media is currently full of real estate 'doom and gloom' – real estate repossessions and arrears are up and real estate prices are down. Successful real estate developers today realize that they can use time to their advantage – their real estate development projects will typically not be ready for sale or rent for 2 to 4 years from inception. You can read more useful tips and information about real estate investment and real estate development at http://realestategameworks.com/washington/.
We're working towards what we believe the economic conditions will be in 12 to 36 months time. Indeed we ourselves are still active in the market – seeking Council permission for a number of real estate development projects.
It is our opinion that the following market signals are some of the key factors that will lead to increased future opportunities, especially for real estate developers:
·The current Federal Government has stated that they will work towards increasing Housing Affordability and have begun to announce incentives including Tax Credits of $6000 per year if the housing is rented at 20% below market rent.
·We believe that an increasing number of people, in the short to medium term, are likely to require the rental accommodation that we intend to build. This is due to either their financial stress (can't afford to purchase a home) and/or demographic trends (including Gen-Ys who are less likely to buy Real Estate).