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Jessica Darnbrough
Australians that are happy to put their money into property for the long term, are being advised to buy now.
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Housing Industry Association chief economist Harley Dale said investors with adequate savings would do well to invest in property as it is a real “buyer’s market” at the moment.
“Now is definitely a good time to get into the market,” he said.
“There is a lot of competition between vendors at the moment, which is putting the bargaining power firmly in the hands of the buyer.
“On top of that, the interest rate environment is very kind, thanks to the 50 basis point rate reduction we saw at the end of last year.
“So, if you have the funds to make a financially responsible decision to buy property, then now is definitely a good time to buy.”
Of course, Mr Dale warned any investors entering the property market to bide their time before selling.
“We are not seeing the yields we saw 10 years ago. In many instances, this makes the buying environment even better. But, if you want to see a return on your investment, you have to be in it for the long haul.”
