What time of year is best to buy IP?

[tess85]

I guess that the best time of year to buy an IP is when a cracker of a deal pops up... however I'm just wondering if anyone has noticed that you can get more bargains at the end of year around December when sellers feel like they are desperate to sell before the Christmas break.

We are currently trying to decide on buying an IP in Brisbane... but a bit undecided about whether now is a good time to buy, compared to later in the year. (given the uncertainty with the economy and to take advantage of the so-called end of year "buyers market")

I feel that we bought our PPOR for quite a low price b/c of the end of year effect but 1 example does not make a trend.

What do people think?

 

[vbplease]

If you see a good deal in Brisbane now I'd be inclined buy before the end of the month. As of 1st July you'll be competing with quite a few OO's waiting out for the stamp duty concession to be reinstated.

Could also be the winter factor, but I'm seeing not too much stock for sale where I'm looking. Bring on the warmer months and more IR cuts and there will be more action from PI's and OO's I'm thinking.. if things pick up in Brisbane after being down for so long - I wouldn't want to be competing with them

 

[Lawry]

I think it is as you have said, it could have an effect, some vendors wanting to sell before Christmas, school hols etc, but each opportunity has its own drivers and pros, cons.

Another factor to think about is finding a tenant if it is bought without tenants, depending on settlement terms. Just as there may be less buyers in Dec, there can be less tenants wanting to move in Dec to Jan too, just generalizations of course

 

[Jamie M]

I think the market in Canberra is slightly effected by seasons.

I have no data to back this up. But my general observation is that when spring time arrives and the weather is improving - people tend to get out and about a bit more, including to attend open houses. We also tend to experience a spike in business during this period.

I wouldn't want to be outside in Canberra right now, the trees look like they're about to fall down with all this wind

Cheers

Jamie

 

[The Y-man]

Melbourne IMHO: Winter for stock left over from Autumn sales, just before Xmas, or just after Summer Holidays when people have held on thru the Summer break.

The Y-man