We know there have been a lot of conflicting reports in the media about the market, and it seems like we should weigh-in on why we think it’s still a great time to buy this winter.
- First of all there’s lots of choice. RP data reports that there is approximately 30% more properties on the market than there were at this same time last year. As this supply dries up, prices also tend to increase.
- Banks seem to be lending again. There are good deals on 3-year fixed rates, which suggests the banks have confidence in residential property in the medium term.
- Despite all the media reports about interest rates, they actually have not gone up since November last year. However, rates will inevitably go up in the next few months, so this is a great time to beat the rise and lock in a loan at a favourable low rate.
- Rents are high, rental yields are on the rise, and the Lower North Shore continues to be an incredibly desirable area for professional singles and couples, and families of all sizes. This is good news for both investors and self managed super funds.
Our key recommendation is not to miss out by sitting on your hands. You may find that by trying to read or anticipate the market, you may miss opportunities. No one has a crystal ball to tell us what will happen next month, so be sure to keep a long-term perspective and don’t miss out on properties that suit your lifestyle today.
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