We’ve Told You Once. We’re Telling You Again. Buy Berwick!

Last month’s featured property was in the south-east Melbourne suburb of Berwick. We think it’s such a good and rare opportunity that we’re taking the unprecedented step of featuring it again. 

With the Victorian government poised to more than double the stamp duty paid on investment properties from July 1, there is no better time to buy an investment property in Victoria. Centaflora is a new master-planned estate being built in the south-eastern Melbourne suburb of Berwick.  It’s very close to employment hubs such as Casey Hospital and Monash University, as well as 5 mins to Berwick Station, and 40 minutes to the CBD by train, or via the Monash Freeway. There are great schools in the area, as well as shops, restaurants and supermarkets. 

It’s extremely rare to find new estates in areas with such an abundance of existing infrastructure.  Centaflora features open spaces and outlooks onto the Berwick Wetlands. Of the 50 properties being constructed only 9 will be available to investors, ensuring that the estate will have 82% homeowners ¬ – we usually consider 75% as excellent. 

Pfeiffer Property currently has access to one of these. It will be a single-level three-bedroom, two-bathroom double garage property on an easy to maintain 296m2 block. This is an affordable opportunity to get into the Melbourne market for $500,000 with an estimated rental yield of 4.2-4.5% ($400-430pw). 

The project is due to be completed in June 2019. A deposit of 10% is required, with the rest to be paid upon completion. By doing this, investors will also escape the massive hike in stamp duty. The Victorian government has recently announced that from July 1, 2017, there will be extra stamp duty to be paid by property investors, who will also lose the off-the-plan stamp duty discount they had previously enjoyed. The difference is significant. For a new property purchased for $500,000, the stamp duty will more than double from $11,570 to $25,070.  

It’s a great investment and you can save $13,500 in extra stamp duty by acting now. This property will be sold very soon, so to express your interest please call Pfeiffer Property on (02) 4940 8042 now.