With the property market cooling in many parts of Australia, many people may be wondering if now is a good time to buy as either a first-home buyer or investor.
Australia’s median property price fell 3.4% in the August quarter, according to CoreLogic, which could be either good news or bad depending on your perspective.
On the downside, no one likes the idea of buying an asset that then drops in value. So it’s tempting to sit on the sidelines until there’s undeniable proof the market is back in growth mode.
However, there are five reasons why buying now might actually be a good idea, depending on your personal circumstances.
Whether this is a good time to buy depends on your personal circumstances. But if you have a secure income and financial buffers in place, this could be an excellent time for first-home buyers and property investors to enter the market.
Unsure if now is the right time to buy? Get in touch and I’ll be happy to help you evaluate the pros and cons.
Source: Loan Market