Property investors who wait too long to buy in the current market will end up paying a significant premium further down that track, according to property investment expert Danny Buxton.

Buxton, of Triple Zero Property Group, says it is possible to buy well in a hot market, you just need to ensure you have the right team of experts in place to help you find the right property.

“It is a hot market again,” he says.

“There is a lot of FOMO (fear of missing out) and there’s panic buying.”

Buxton says true investors don’t buy with emotion; they do their research, build a team, identify where they want to buy and then select the right opportunity.

“We’re very bullish about where the market’s going to be, not just now, but 12 months from now and two to three years from now,” he says.

“In some of those areas, like Brisbane, there are people who say ‘I’m going to wait’. They’re going to wait for another 12 months or 18 months before they get into the market. They’ll be paying a premium on top of what they would be paying today.

“It will be a challenge. I don’t see the market going backwards at a rate of knots.”

Buxton advises against waiting too long to enter the market, but he also cautions against blindly rushing in and overpaying.

He says the strong fear of missing out is driving people to pay substantially higher prices, particularly in regional markets and smaller capital cities where demand is strong.

Buxton says investing is a long-term thing, so it’s essential to buy sensibly from the start, despite being in a booming market.

“Don’t panic,” he says.

“You’ve got to get your ducks in a row and you’ve got to make sure that you build your team. Having the right team of professionals around is essential.

“You have to start with the end in mind. What is the purpose of your investment? And once we know what that is, and then we know where you sit financially, we can then map out a strategy for you to achieve the goals.”

Buxton says investors also need a “property focused solicitor” who can give the right advice on contracts before you sign.

He says a buyer’s agent is invaluable in boom markets, as they can help you find the right properties based on your objectives and what you’re trying to achieve, which is independent and has your interests at heart.

Getting your finances in order is particularly important in a hot market, according to Buxton, so that when the right property comes up you can move quickly.

Buying the right property in the right area helps future proof your investment, so that means doing solid research – not just looking at available properties online.

“You’ve got to look at the indicators, the demographics, what’s going on in an area, the population growth and the infrastructure.”

Areas worth considering for investment include parts of regional Victoria such as Shepparton, where there is significant infrastructure spending including an upgrade to the fast rail service, a mall redevelopment and the $1.3 billion bypass project.

It’s affordable and the yields and rents are strong.

Opportunities still exist in Ballarat and Geelong, while Perth is also worth considering, with many sub-$400,000 options and a strong rental market and vacancies of less than 1%.

Adelaide, particularly the northern suburbs including the City of Playford, has good opportunities which are also affordable.

“I really do like Brisbane,” Buxton says. “I think Brisbane is a market that has been on the starting blocks for a number of years. It’s just been waiting to go. There’s just been these little things that have stopped it from moving forward.”