It seems that we’re slowly emerging from the cocoon that’s been enveloping us for the past few months. We’re tentatively stepping out into the world to see what’s going on and trying to figure out what our new normal is.
We won’t truly know the impacts of COVID-19 until the pandemic is behind us, but we do know that through every challenge and crisis that we’ve faced, the Australian property market has held strong. Over the past 120 years, Australian property prices have risen at an average compound rate of 10.4% and they have doubled every 7 years or so. Even through war, drought, changes in migration and government policy, property prices have increased consistently.
As property investment consultants, our advice is always that investing in property is a long term proposition. The peaks and troughs that we encounter along the way are part of the journey. We ride through them with our eye on the long term goal without changing course.
So is now the time to buy property?
The best time to buy property is when it works for you. If now is a time that you’re financially in the position to invest and the right property at the right price is presented, then yes, it is the right time to buy.
Will you get a great deal?
There’s no doubt that the market has slowed which has caused prices to drop and investors looking to “sweeten the deal” with incentives on new properties.
For you, this could mean that you could pick up a well-priced property. But don’t look at price alone. We need to make sure that all the numbers add up:
- rental return,
- rental demand,
- vacancy rates and
- capital growth forecasts.
The location, as always, is just as important as the price, and your investing strategy always underpins both.
Aim for financial security
The thing that has been really highlighted by this pandemic is the fragility of so many people’s financial position. We don’t want this. We want you to be robust when it comes to your financial security.
If you’re in a position to invest now, do it. We want you to plant seeds today that will secure your future for you and your loved ones.
It’s a buyer’s market, so you have a greater ability to buy on your own terms rather than meeting the vendor’s demands, and there’s less competition from other investors who may no longer be in the position to buy.
Let’s get the ball rolling and arrange a meeting to talk about your goals, your budget and your timeframe. Once I have your brief, I can start the property search for you.
Let’s secure your future now.