Hi All,
I was looking to buy an IP in SEQLD this year but have just been reading all the posts re the property "bubble" and how property prices are predicted to drop in the next year or so due to cessation of the FHOG and increasing interest rates…
so I was just wanting to throw a question to all you property investors out there and find out, in light of all the info and predictions, how many of you are still planning on buying IPs this year and how many are waiting to see what happens next year?
Hi Kyla,
I can tell you that
a) plenty of people are waiting to see what is happening
b) with my clients at least, still plenty of Interest. For some reason I seem to be getting a lot of enquiry from South Australia all of a sudden. Victorians are signing the contracts though, they seem to make the decision a little quicker. Sydney has completely died from my end. And of course SE QLDérs are still happy to buy in the own corner of the world, bless ém.
Depends on the market you are intending to buy in, I personally dont think the lower end, and thats what i deal mainly in, wont go any lower. On a property by property basis you may get a price reduction one or two percent lower than expected, depending of course on vendor circumstances, but in general this end of the market is standing up. Investors are slowly returning to take over as the main buyers. Again, thats my personal opinion based on what I am seeing through my own agency.
I am looking at a property this week that my wife and i am hoping to purchase as i feel it is as good an opportunity as I am likely to find.
S.E.QLD is still a place of opportunity, population growth is massive and that is always going to be a key factor in growth, infrastructure also is at a high.
My advice to my clients is simple, and i would advise you too, just do your homework.
Good luck with it.
Ive been very close to signing on a few, but thinking logically-there will be more downward pressure than upward, so not in a great rush. Cant wait for interest rates to go up a couple of %
A little bit concerned about the sub $550k part of the market, but anything over about $850k seems to have value.
Would buy anything at the moment for the right price
We are seeing first hand a lot of investors coming back into the Sydney market. Its not suprising really – low interest rates, a flat market and plenty of bargains around.
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