Is anyone buying now?!
- Thread starter Canberra Milk
- Start date
fair enough stance it is. It really comes down to your risk profile and what you see happening in the future.
For instance as a developer I feel now is a good time to buy (for me) because I pickup sites on what I feel are substantially lower in price and on better terms.
If I wait until the market improves everyone else will also notice and such sites will be harder to come by.
For most simply looking for a standard IP, you could get something from a desperate developer for much cheaper or even at cost value (or even lower).
You are perhaps not buying with the view property will boom next year which it wont however you could buy something today at a price much lower than the overal median i.e. do better than the market and get an instant bounce when the market simply improves.
For argument sake townhouses selling last year for $480k one might buy today for $420k from a desperate developer and if things simply improve the market may bounce back to say $460-470k purely as buyers return (i.e. not actually pushing prices up).
However holding back is completely reasonable for most in this market. However just remember when you can tell the market\sentiment is improving so does everyone else and the chance for real opportunity has passed. On the flip side if things get worse you have benefited for waiting - like I said comes down to risk profile and your views on were property is heading.
For instance as a developer I feel now is a good time to buy (for me) because I pickup sites on what I feel are substantially lower in price and on better terms.
If I wait until the market improves everyone else will also notice and such sites will be harder to come by.
For most simply looking for a standard IP, you could get something from a desperate developer for much cheaper or even at cost value (or even lower).
You are perhaps not buying with the view property will boom next year which it wont however you could buy something today at a price much lower than the overal median i.e. do better than the market and get an instant bounce when the market simply improves.
For argument sake townhouses selling last year for $480k one might buy today for $420k from a desperate developer and if things simply improve the market may bounce back to say $460-470k purely as buyers return (i.e. not actually pushing prices up).
However holding back is completely reasonable for most in this market. However just remember when you can tell the market\sentiment is improving so does everyone else and the chance for real opportunity has passed. On the flip side if things get worse you have benefited for waiting - like I said comes down to risk profile and your views on were property is heading.
Depends where your buying there is plenty of properties around Australia that make sense to buy now.
If yeilds are so low it doesnt make sense to buy as an IP, it makes less sense to buy as a PPOR.
Too limited outlook.
If it makes no sense to BUY a PPOR then it is equally as nonsensical to hold the one you own. I ain't sellin!
finally after a long long search i signed contract today for upgrade PPOR, bought off market with 6 months settlement, renting under license for 5 months before settlement.
very happy with location 200m from train station and major shopping strip we wanted to be near
going to keep current home and rent out
first real property i have bought in 16 months, longest gap since i started buying!
massive relief
very happy with location 200m from train station and major shopping strip we wanted to be near
going to keep current home and rent out
first real property i have bought in 16 months, longest gap since i started buying!
massive relief
Sunfish, Not sure what this is supposed to mean can you clarify.
Not true because you need to risk-weight your decision.
At this stage it might not make sense to buy because the risk is to the downside. But the downside risk is not sufficient enough at this stage to warrant selling given the transaction costs etc you incur.
In shares there is a hard-nosed group who say here is no such thing as a "hold", just "buy" or "sell".
I just applied the logic is all.
And when will that be? In truth no-one EVER knows in all certainty where the market is going. This is why some people NEVER buy.
Agreed let's see what happens in 6 months - ie how far market falls, how much rates fall.
If a drop in price is all it takes to convert a "wait" to a "buy" why not buy BHP today? It is off 25% since it's high earlier in the year.
The obvious answer is "Because it will probably become cheaper". In six months time, regardless of how RE prices have dropped, you wont know if they are about to go lower still.
Sometimes it sounds easy but it ain't.
The obvious answer is "Because it will probably become cheaper". In six months time, regardless of how RE prices have dropped, you wont know if they are about to go lower still.
Sometimes it sounds easy but it ain't.
If a good buy comes up I'll re-consider. But in the current market I am happier sitting and waiting. Once there is a bit more clarity I'll re-assess my position.
I think it's called common sense.
Definitely agree with the last few posts. Let's sit on our hands and wait...forever
Knock yourself out.
I'm erring on the side of caution. It may bite me. It may not.
But I'm not naive enough to believe that Australia is going to magically ride through another financial situation.
