More Meriton-made millionaires as market rebounds and investors return

Every rate drop has a purpose. And with a second interest rate drop in as many months, property investors are hopping back on the investment train and it is full steam ahead.

The founder and managing director of Meriton, the largest property development company in Australia, Harry Triguboff, says that there has been a noticeable upswing with investors showing their hand in the past week.

“Investors are back and are adding to their portfolios,” Mr Triguboff said.

“It’s not only the lower interest rates bringing them back but the rental market is also very strong. Tight rental housing and undersupply are pushing up rental yields.

“Conditions are stabilizing so that is why we are seeing a stronger investor market.

“Buyers know that now the interest rates are coming down, and with further drops expected this year, this is the best time to buy before prices increase, which historically always happens.

“It also helps that Mr. Trump is being very quiet at the moment,” he smiled.

Investor, John Young, started with one Meriton investment apartment and then bought a second, and later, a third.

“The first one was the hardest decision,” John said.

“I would wake up in the middle of the night asking myself a million questions regarding the risk of buying an investment property. I was definitely one of those fence-sitters.

“Then I heard Harry Triguboff speak at a property lunch many years ago and he pushed me off the fence and into greener pastures.

“Back then, it wasn’t like it is today. Harry always had the best locations for his developments close to transport, but the chic Meriton villages with boutique shops, supermarkets, restaurants and cafes, childcare centres and beautiful landscaped parks came later.

“He has now created these fantastic island land developments that capture everything you could possibly want or need to have the very best lifestyle. Investors are spoilt for choice,” he says.

And tenants are queuing up for these lifestyle developments. Amanda Wellings and her pup, Tiffany moved into Pagewood Green three years ago.

“I am on a pretty tight budget,” Amanda says as she sits in the park watching Tiffany play with her friends and soaking up the Autumn sun.

“But I absolutely love it here. It doesn’t matter if you are an owner or a tenant, everyone is part of this community.

“I stretched the budget a bit to come here but in fact, I have saved money. I hardly ever take my car out and only need to fill up now about once a month, instead of once a week. I have really saved on petrol.

“Because everything I could ever want is right downstairs, I don’t do one big weekly shop anymore, most of which I threw out by the end of the week. I buy as I need and I save hundreds of dollars a month that I now spend on eating with friends at one of the restaurants downstairs.

“What I notice the most though, is how relaxed everyone is. People smile more, they say hello and I never feel like I am living on my own.

“I have travelled a lot and I don’t know anywhere else in the world that you could live 10 minutes from everywhere including the CBD, the airport, the beaches, schools, churches and hospitals while being surrounded by beautiful parks and open spaces.

“I want to stay here forever. If you can’t afford to buy, it’s definitely the way to live so I am grateful to the investors who give renters like me that opportunity,” she says.