Real estate body shines light on commercial property opportunities
It's no secret that residential real estate prices have been on the rise for quite some time, but what holds true for houses isn't necessarily the same for commercial property.
According to the Real Estate Institute of New South Wales, with the official cash rate once again being held at the all-time low of 2.5 per cent, now may be the ideal time to consider investment in commercial property.
"Unlike residential property, commercial properties generally haven't increased in price in the last five or six years," said REINSW president Malcolm Gunning in a 1 July media release.
"Combined with the relaxed lending conditions for commercial loans, it is a great time for businesses to take the next step."
Whether you're in the market for a showroom in Woolner or a warehouse in Berrimah, Mr Gunning's words should give you something to think on.
At the same time, Mr Gunning was also quick to point out that buyers of all stripes should keep certain factors in mind, such as how future interest rate changes may impact their ability to make loan repayments.
However, with interest rates at historic lows thanks to the official cash rate, now does present a good time to strike into commercial property in Darwin for many investors.