Aussie Rules coach who turned a $60,000 country home into a $6million property ... trends now
An Aussie Rules coach with a $6million property portfolio has revealed his hot tips for real estate investors - with interest rate cuts expected.
John Pidgeon, the director of buyer's agent Envisage Property, started with a $60,500 house at Horsham in western Victoria in 1999 and now owns five homes in NSW, Queensland and Victoria.
As a seasoned investor with 25 years' experience, he is bracing for interest rate cuts later this year to drive demand for property, as immigration continues to push up population growth.
'Property prices will rise significantly in the next couple of years,' he told Daily Mail Australia.
'The buyer just wants comfort to know that interest rates aren't going to go up - once they receive that, it might be in the next few months really, it will see some confidence come back into the market.'
An Aussie Rules coach with a $6million property portfolio has revealed his hot tips for real estate investors - with interest rate cuts expected
John Pidgeon, the director of buyer's agent Envisage Property, who started with a $60,500 house at Horsham (pictured) in western Victoria in 1999 now owns five homes in NSW , Queensland and Victoria
The 46-year-old coach of the Killarney Bombers Aussie Rules side, on the NSW Central Coast, is advising would-be property buyers to stick with houses instead of apartments, having learnt from personal experience.
'It really comes down to airspace,' he said.
'All the land's been created, you can only chop it up into so many pieces whereas with apartments and units, your airspace is somewhat unlimited.
'Council regulations change because they need more dwellings and they need those dwellings in key areas with transport so that means that your council approval of eight storeys might go to 12.'
Here are his tips for Sydney, Melbourne and Brisbane, and the coastal satellite cities with the Reserve Bank tipped to cut interest rates in late 2024, from an existing 12-year high of 4.35 per cent.
Sydney
Mr Pidgeon, who lives in a Toowoon Bay house on the Bay on the New South Wales Central Coast, said more affordable western Sydney suburbs like Blacktown and St Marys - with median house prices of $970,030 and $881,564 - had strong growth potential.
'Urban sprawl will ensure that that's got a pretty good future,' he said.
'It's just affordability as well, a lot of people want to live in Sydney and they can't afford to be in the inner rings; if we had a choice, we'd definitely be on the beach wouldn't we but we can't afford that so just go to that area.'
Both areas have a midpoint price well below greater Sydney's $1.4million median, CoreLogic data showed.
The 46-year-old coach of the Killarney Bombers Aussie Rules side, on the NSW Central Coast, is advising would-be property buyers to stick with houses instead of apartments
For those able to work from home who want to be near the beach, Mr Pidgeon recommended suburbs on the Central Coast, like Shelly Beach where $1.328million is the median, and neighbouring Bateau Bay, where $1.018million is the midpoint.
'You've got access to Sydney - you can commute to Sydney if you want to but
