I am in constant touch with several development groups around Australia and they are worried.
It seems the only people making sales are the marketing companies, and not the real estate agents.
The biggest delima for most people is to establish what the true value is that they are buying.
I believe that the bottom is still a way off, IMHO it will be early next year. There are great opportunities out there for the experienced investor.If I was just starting out i would be s…ing myself.
regards Phil[trigger]
get into Perth – we are still well off hitting the top
http://www.megainvestments.com.auExtensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
Originally posted by resiwealth:I believe that the bottom is still a way off, IMHO it will be early next year. There are great opportunities out there for the experienced investor.If I was just starting out i would be s…ing myself.
regards Phil[trigger]
As you know there is not one property market, so your comments are a bit to “broad”
The Melbourne market has been in a slump for about 2 years and has bottomed out. In fact in some areas we are buying in, the market has clearly risen over the last 6 months. (Brighton, East Brighton, Hampton East, Elwood, Toorak)
Prices will not zoom up for a while.
Sydney has been in a slump for a shorter period of time and the Brisbane market topped last year so has a long way to go before prices rise.
As Ausprop says, Perth is wondering what all the fuss is about.
DONT wait for the bottom. You won’t recognise it. And its a buyers market now.
The right time to buy the next property is when you can afford it and when the fundementals for that particulr deal work out. Make cheeky offers and find yourself a bargain
Michael Yardney
METROPOLE PROPERTIES
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Always looking… though not always buying Michael..
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