When Is The Best Time To Invest In Property?

When is the best time to invest in property? Some might say there is no time like the present especially as house prices in Sydney and Melbourne have dropped continuously over the past 12 months. This is certainly a great relief for those who were looking to invest in either of those cities and had witnessed a price increase in the 12 months prior. And interestingly enough, some experts claim that prices may continue to remain steady (or drop even further) for at least another 12 months and beyond.

With this news, many are left scratching their head and wondering should they buy now or wait to see if they do indeed drop even further. If you are seriously in the market to buy then it always pays to keep your eyes open for a great opportunity. In situations like this, however, there is no need to pay more than you want to for fear of missing out. Buyers currently have the negotiation power because of the stagnant market which means that you can ideally buy the home you seek rather than opting for something substandard.

Of course, the downturn has not affected all states. Brisbane properties have seen a steady price increase which has been quite the norm for them. With incomes also rising in the northern state, things are looking good for those wanting to invest in Queensland. There has been no real dramatic increase or decrease and it provides many long-term growth opportunities in the future.

So back to the question, should you invest in property? Ask yourself, do you have all your ducks in a row? Have you sussed out a financer? Do you have a long term plan in place? Don’t just leap at the first property which becomes available just because of a stagnant market. As Sydney, in particular, has seen a rapid growth of late, those wanting to purchase homes are keen to see them drop even further. It is certainly a good buying opportunity as long as you do your homework and have your eye on a longer-term approach.

Investing in properties through renovations and external buildings such as granny flats will also prove to be a good thing during this period particularly as house prices are cheaper. Renovations and secondary dwellings will only serve to add to your investment particularly if you have done your research and are looking to focus on capital growth. Low-risk approaches can be particularly positive around these periods.

It’s understandable to be nervous when it comes to investing in property as you cannot predict the future with any great accuracy. Keep an eye out for those dollar-friendly opportunities which can happen at any time, slump or otherwise, and be confident when they do finally present themselves. Speak to the experts, weigh up the information and only buy when you feel the time is right for you.