Is now the right time to be buying property in Australia?
By Casey Taylor | Buyers Agent
The reality is if you have been sitting on the fence over the last 12 months with cash in the bank and you could have purchased you have lost money.
- Your cash sitting in the bank is worth less than it was 12 months ago due to inflation
- Property prices over the last 12 months in the right locations have continued to increase creating capital growth/equity
- You now have to pay more for the exactly the same asset, and borrow more money to do so
This is one of the biggest mistakes that property investors make. They are always waiting for the perfect conditions to invest.
They sit on the fence and they get left behind.
If you want to build a property portfolio, if you want to create an abundant future for yourself and your family you need to go against the herd.
You need to take action, it’s that simply.
Main stream media will always have some negativity to project on why you shouldn’t invest, or your uncle at the BBQ telling you not to invest but he has only ever owned his Owner Occupied property.
Find a property mentor, someone with runs on the board and in the position you want to be in.
Multiply properties, with a strong property portfolio.
Now, today I’m going to tell you some of the reasons why now is the time to invest in Australian property.
Right now as an investor taking action, it’s an exciting time to be investing in Australian real estate.
Australia right now is going through a population boom. This population boom will put upward pressure on Australian property prices.
It is predicted that Australia will be the fastest growing country by 2030.
What does increased population growth mean?
Population growth means an increase to demand.
Increased demand means more competition.
Where is the majority of the this population growth going?
The major cities.
Pushing demand higher and house prices higher.
Now on the flip side, we are experiencing low building approval levels.
This means that supply can’t keep up with the increased demand.
High demand + low supply = Scarcity
Scarcity = Growth
The pressure cooker.
Established properties in established areas where further land can’t be created will experience pressure.
More individuals competing over the same amount of land.
The buying window before the herd come back to the market is closing in.
We have experienced four consecutive rate holds from the Reserve Bank of Australia.
Once we see a reduction to the official cash rate some time in 2024 we’ll see a massive increase in purchases and people flooding back to the market.
Further pressure in combination with the growing population.
If you have been sitting on the fence waiting to purchase, now is the time. Don’t keep losing money and missing out.
If you want to take advantage of the Australian property market and invest nationwide reach out today. We can chat with you regarding the opportunity of working together and helping you secure a high quality, high performing investment property.
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