Tarneit real estate is proving to be a slow but steady investment choice for landlords.
The price of houses and units in Tarneit soared from 2008 to 2011 (30-50% increase) before dropping between 2011 to 2013 (10% decrease). Since late 2013 the upward trend in capital growth has been more in line with the hopes of local investors. In Tarneit, house and unit rents increased until 2010 and then plateaued from 2010 to 2013. The rents plateaued (instead of falling) in Tarneit because the area is relatively established and the supply of new rental properties within Tarneit increased only slightly after 2011. In some parts of Tarneit’s surrounding fringe areas rents actually dropped after 2011 due to an oversupply of new housing, a peak in first home buyers in the previous 3 years (taking tenants out of the market) and a falling economy. Since late 2013 the rental trend has trended upwards and we expect that will continue.
There is a strong indication that the Tarneit real estate market is recovering with sale times falling considerably. Landlords should view their investments in Tarneit (and the surrounds) as long term investments. With considerable infrastructure being delivered in the Tarneit area, not just being promised, expect sale and rental values to continue to increase in the coming years.
The key factor for Tarneit is the train station. This is attracting many more renters to the area whom are seeking public transport for work in the city.
If you need a Real Estate Agent in Tarneit who specialises in rental property management then give us a call.
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