Housing Rides Bumps
First interest rates rise, then there is a sharp fall in housing investment finance, followed by a fall in demand which drives down prices, this then spreads to owner-occupiers as it invades the suburbs, and families can only watch as their value in the family home disappears, virtually overnight.
This week it was confirmed that finance for investment properties tumbled 15.5% in January, the 3rd consecutive fall and the lowest level in 13 years.
Melbourne and Sydney are slowing, Perth and Brisbane are showing some growth..
Some speculators who bought off the plan are looking for escape clauses, as panic sets in. Still…. is this really the beginning of the end ?
What do you think ??
An excerpt from article in the west australian
“Money is a currency, like electricity and it requires momentum to make it Effective”
Redwing,
Down and up swing of the cycle of any investment assets tend to happen every now and then. The articles seem to points out that the property circle is peak and be aware! Don’t just jump in the pool without checking if there is any water in it.
Now is the time to plans and reviews your portfolios.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]I went to a State Trustees auction this weekend for a property in my area. It was a 2 bed unit and I thought the price sold held its value quite well. There were a few bidders competing.
I was expecting it to sell for less.
is that the laverton or the noble park one
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