Hey Guys,
This is my first post, I am new to the forum game. I am looking at increasing my property portfolio at the moment so I am doing a bit of research.
I thought I'd put it to you and get your opinion. Do you think is it a good time to buy an investment property? Everything I am reading is very positive but I want to hear what you think.
http://propertymarketresearch.com.au/confidence-at-an-all-time-high/
Thanks
Chris.
Hi Chris
Welcome to the forum and I hope you enjoy your time with us.
All i can comment on with accuracy is the level of enquiries both on our Finance side and Buyers Agency.
In both cases we have received more enquiries from both new and existing clients in the first 3 weeks of 2014 than at any previous 3 week period in the last 2 years.
Really seems to be a level of acceptance in the market place that interest rates will stay low for the mid term and the economy is turning for the better.
Certainly valuations are reflecting this and the comments from the large valuation firms nationally is encouraging.
Brisbane for one is go go go.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Yep, it's been insane start to January!
The phone hasn't stopped since the 6th of Jan.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Beware… Richard and Jamie may be busy but that is more than likely due to successful businesses rather than what the market is doing.
Key point of that article and I'm no fan of industry MSM hype..
“… ANZ expects that Australia will experience below-trend growth over the next 12-18 months.”
There are storm clouds brewing on the horizon so be aware of what is driving markets. It's not any kind of positive economic news because there is none. It's almost soley driven by foreign hot money flows. The RBA isn't holding rates down and considering lowering them further because things are all honky dory. China is in a world of hurt and that affects AU significantly. There is nothing in their future that bodes well for the AU economy over the next 5 years at least.
So ignore market hype, look and understand what is really going on and invest with that in mind. If things struggle you won't get cleaned out and if they're better than expected you could do well. IE hope for the best but plan for the worst.
Good advice by Freckle.
It's a mixed bag at the moment. We have property that is within 10km from CBD purchased for about $650K in 2009 still worth $650K according to sale next door in December. On the other hand, we got property under the contract few weeks back for $1.4M that was 1.95M In 2009.
So, in mine view high end is folding but is hot as far as number of transactions is high. Mid range is steady up/down 10% depending on the pocket in Brisbane and time of the year.
You can say that market confidence is good and people buy/sell houses, but values of the houses is another question altogether.
Is it a good time to invest? I don't know, depending on how good of investor you are!
P.S. Stop reading forums and internet looking for quality info. Most what you read is one-sided and opinioned. Get out, talk to agents, visit houses. Come back and do it all over again every weekend. In 6 months, you will be advising me on how good/bad particular areas are
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