I had an interesting conversation with an r/e agent today.
I have a (DHA) property in Jerrabomberra, near Queanbeyan.
It's value has improved quite well, after some years with not much growth (like many areas).
But what he's said is very interesting.
There appears to be an annual cycle there- perhaps like Canberra, but possibly accentuated.
Winter, prices go down. Spring, they shoot up. Summer, they rise, but not too much. Autumn, not much again. But again in winter, back down again.
Nothing to rely on. But he says it's happened like that for the last 10 years. Annual variance, perhaps 15%. Annual growth, 5%.
So if a developer is saying, "Buy land before Christmas", he really means, "before prices go down again".
Does this sort of cycle happen elsewhere? I've heard before that in the ACT, winter is a good time to buy- for similar reasons.
I have a (DHA) property in Jerrabomberra, near Queanbeyan.
It's value has improved quite well, after some years with not much growth (like many areas).
But what he's said is very interesting.
There appears to be an annual cycle there- perhaps like Canberra, but possibly accentuated.
Winter, prices go down. Spring, they shoot up. Summer, they rise, but not too much. Autumn, not much again. But again in winter, back down again.
Nothing to rely on. But he says it's happened like that for the last 10 years. Annual variance, perhaps 15%. Annual growth, 5%.
So if a developer is saying, "Buy land before Christmas", he really means, "before prices go down again".
Does this sort of cycle happen elsewhere? I've heard before that in the ACT, winter is a good time to buy- for similar reasons.