Hi there,
Just wondering where people think we are at in the property cycle here in Melbourne?
A good time to buy, or a good time to sell?
My feeling is that the ideal buying window (for those timing the market), has well and truly passed us, even looking further out from the CBD in middle to outer suburbs.
I'm trying to anticipate when might be the best time to do a re-valuation and LOC top-up on my IP's, and also possibly sell one of my earlier purchased IP's (I need a deposit for a PPOR!).
I was thinking maybe in 12-18 months' time we may approach the peak of this cycle?
I don't think it's a bad time to do some re-valuations or selling now (ie. it's a seller's market), but when might be the best time?
(A bit of crystal ball gazing here I know... but let's compare crystal balls!)
btw My view is that the best gains are made by buying ''below market-value'' AND at the right time in the cycle. Though, if you're not in the market at all, sometimes it's best just to get in, regardless of where exactly we are in the cycle.
Thanks.
Just wondering where people think we are at in the property cycle here in Melbourne?
A good time to buy, or a good time to sell?
My feeling is that the ideal buying window (for those timing the market), has well and truly passed us, even looking further out from the CBD in middle to outer suburbs.
I'm trying to anticipate when might be the best time to do a re-valuation and LOC top-up on my IP's, and also possibly sell one of my earlier purchased IP's (I need a deposit for a PPOR!).
I was thinking maybe in 12-18 months' time we may approach the peak of this cycle?
I don't think it's a bad time to do some re-valuations or selling now (ie. it's a seller's market), but when might be the best time?
(A bit of crystal ball gazing here I know... but let's compare crystal balls!)
btw My view is that the best gains are made by buying ''below market-value'' AND at the right time in the cycle. Though, if you're not in the market at all, sometimes it's best just to get in, regardless of where exactly we are in the cycle.
Thanks.