Property is still a good investment providing homebuyers do their research carefully according to Frank Death, CEO HomeWorld Display Village Kellyville.

“While the interest rate increases have affected some property values, property researchers Residex are quoted as saying that the market seems to have accepted the increases and there is some growth again,” said Death.

“It’s really a double-edged sword because there are some good property buys due to the slowing of the market and at the same time the demand for rental property has increased opening up opportunities for investors.

“There is now more land available at affordable prices in quite a few areas and there are good deals to be secured with HomeWorld builders keen to lift their sales,” he added.

“Whether you are an investor or a family looking for a new home more suitable to your future lifestyle the time is right to secure a good deal as prices are likely to move up as the market settles down.

“At the village we are finding that knockdown rebuild projects are as popular as ever because of the lifestyle and investment prospects. This type of development allows people who want to live in a particular area to buy an old run down home and replace it with a brand new one with all the lifestyle benefits.

“There are also the families who are quite happy with their neighbourhood but want a brand new home more in keeping with their lifestyle and their changing family composition. Often the opportunity to provide separate accommodation for elderly relatives is one of the major attractions of a brand new home,” Frank Death continued.