Is it property market???
Lending policies ??
Prices going up ??
Prices going down ??
We all have seen the “Peak and Trough ” of the property market. We all have seen the headlines on the media, news channels, news papers, magazines and on day day to day conversations with colleagues and friends.
Most of all we hear a lot as Real estate professionals, “Hows the Market mate ” ??
Most of the people are wondering about the slightly dropping prices in Sydney, Melbourne and Canberra but forgetting that prices have gone up by 80% in Sydney and 62% in Melbourne and 25% in Canberra.
We are at the Correction market, where government are focusing on stabilizing the property prices through changes in lending policies, government restriction and changes on foreign policies nationally.
CoreLogic data shows national property prices consistently dropped for the 13th month in a row, mostly Sydney and Melbourne and slightly in canberra in few weeks as Auctions clearance rates were 40% approx.
I think, it is good for the first home buyer who are just trying to get into the market and securing a deposit for their Dream Home. Incentives like stamp duty concession and first home buyers grant has definitely lowered the barriers when entering to the Property market and you get a chance to buy a property at the bottom of the cycle.
If you are first home buyers:
Before going to the market- Estimate your borrowing capacity and find the property depending on your budget and lifestyle rather that looking at what others are doing.
If you are an Investor, look for the property which gives you cash flow rather than looking at the colour of the walls, size of the bedrooms or scenic views. At the end of the day, “Cash is King”
If you want to know, where to buy, how to buy, when to buy a property ???
We are doing all the research and working hard to find you a best deal.
Call us today for all your real estate needs 📞0452 646 746, 02 5104 0722