With all the media speculation around the state of the housing market, an obvious question that I hear a lot is whether now is a good time to buy.
There’s no doubt that after a few years where the media helped hype up the property market, they are doing their best to talk it down. However, there are some good reasons to buy in the current market.
Not one property market
While we hear about national property markets falling or how values in Sydney or Melbourne are down, the reality is as an investor you have more than ten thousand different markets to choose from. There are many suburbs and even streets that are still witnessing strong demand and low supply, which will help them see capital growth during the current market cycle. Don’t get caught up in thinking all markets move the same way at all times.
Buyers market
Warren Buffet once said that it is wise for investors to be “fearful when others are greedy, and greedy when others are fearful”. We are currently in a buyer market, meaning that you will have a lot more power to negotiate a good deal. 12 months ago, you would have been facing multiple bidders and there was very little chance that you could have achieved even a fair price for many properties. Now is the time to secure a deal, while others are being
Time in the market
While we all want to time the market, far better advice is to try and spend as much time in the market as you can. As we’ve seen over many decades that the longer you hold onto a property the more chance you give it to grow in value. It’s very hard to try and pick a top or a bottom and you should instead focus on finding the very best property at the best price when you have the ability to buy. Instead of being frozen by fear of the unknown and listening to the media hype, get proactive and start looking for opportunities where no one else is.
If you’re interested in getting started investing in property, but not sure how to get started, or you don’t know how to find the right location, feel free to get in touch and we can discuss the best options for your situation and financial goals.
