Forums / Property Investing / Help Needed! / Purchase Now or Wait

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  • Profile photo of SakoSako
    Participant
    @sako
    Join Date: 2019
    Post Count: 10

    Hi there,

    My Story…

    I live in the Northern Suburbs of Melbourne, where land prices sky rocketed from 207K in 2015~16 to 420K in 2017(448m2 land). However, with the Royal Commission moving in, banks becoming stricter with their lending, property bubble more likely, and Labour likely to win, the prices started to fall (now 448m2 land is worth ~310-330K).

    Now, with ScoMo winning the elections, the banks ignoring the Royal Commission, and an interest rate cut on the horizon, I’m worried that the prices might shoot up again and I’d end up needing more deposit to buy a land.

    so, I am looking to purchase a land and build a new house.

    Question:
    Is this the time to enter the market ? or are the prices predicted to fall further ?

    Many Thanks,
    Zaid

    Profile photo of BennyBenny
    Moderator
    @benny
    Join Date: 2002
    Post Count: 1,366

    Why not join us all on tomorrow night’s webinar (advertised on the front page, but link below)

    http://www3.propertyinvesting.com/mu19

    You’ll see from the advert that there will be a Market Update for all cities, a whole heap of other good stuff, as well as a Q&A session. Very good value for just $20. Check it out,

    Benny

    Profile photo of SakoSako
    Participant
    @sako
    Join Date: 2019
    Post Count: 10

    Thanks Benny, I’ll take a look at the play back.

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