A recent article in the Property Observer by Mark Bouris of Yellow Brick Road, talks about when is the best time to buy property.
There is a lot of data to consume when analysing property on a regional, state or national level. Considering only one lot of data in isolation could provide a false reading of a much larger picture.
In comparing property prices from one year to the next, if you notice a drop in prices this does not necessarily mean that property is looking to be a bad investment. What you also need to look at is the data from 4 to 5 years ago, compare this to the current market and use that as a good indicator of the overall growth within a certain area or sector of the market.
It is for this reason that Mark Bouris urges people to "take this market in five- to 10-year windows."
As Mark Bouris explains, "Property, in the end, is a medium/long term asset: one step back can be countered by three steps forward. But you have to be patient and strategic: your investment needs time. It can’t reach the peaks if you sell in the troughs."
The full article available at Property Observer.
There is a lot of data to consume when analysing property on a regional, state or national level. Considering only one lot of data in isolation could provide a false reading of a much larger picture.
In comparing property prices from one year to the next, if you notice a drop in prices this does not necessarily mean that property is looking to be a bad investment. What you also need to look at is the data from 4 to 5 years ago, compare this to the current market and use that as a good indicator of the overall growth within a certain area or sector of the market.
It is for this reason that Mark Bouris urges people to "take this market in five- to 10-year windows."
As Mark Bouris explains, "Property, in the end, is a medium/long term asset: one step back can be countered by three steps forward. But you have to be patient and strategic: your investment needs time. It can’t reach the peaks if you sell in the troughs."
The full article available at Property Observer.
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