Investors everywhere are asking this question: Is now the time to buy?
In some areas of Australia, the prices of houses are decreasing while in others, the prices are increasing.
Recording-Breaking Sales
Of course, there’s always that record-breaking sale that alters the overall statistics. For instance, Ed Craven recently purchased a Melbourne mansion to the record-breaking tune of $88 million.
Craven is a 26-year-old millennial businessman who founded Stakes.com—an online cryptocurrency casino. He purchased the property at 29-31 St Georges Road, Toorak. It is currently the highest price paid for a home in Victoria, and third highest property sale in Australia.
Ironically, just down the street from Craven’s new property, 17 St Georges Road, is currently set to take the fourth highest property sale in Australia at around $65 million.
Wondering what took the first and second place for highest property sales? According to Domain.com.au, “The national record price is the $100 million sale of Sydney trophy home Fairwater, in Point Piper, to Atlassian software billionaire Mike Cannon-Brookes, followed by mining chief John Li’s $95 million purchase of Edgewater, also in Point Piper.”
Will Housing Prices Rise or Fall?
In the current real estate market, the median price of residential properties across the Australian capitals is just over $1 million.
The cost of real estate is currently declining, though not at as rapid of a pace as the experts have been predicting. It helps to keep in mind that property prices have risen anywhere from 21 – 41 per cent depending on locale in the last couple of years.
Therefore, the prices would need to drop quickly and dramatically to go below pre-COVID prices. Interest rates are between 4.84 – 6.17 per cent depending on the type of loan.
Nevertheless, the Reserve Bank of Australia has raised interest rates for the fourth month in a row, lifting the cash rate by 50 basis points and placing further strain on the nation’s highly leveraged mortgage holders.
So… Is Now the Time to Buy?
Keep in mind that the Australian property market isn’t just one market. You might not be ready to make a record-breaking deal like Craven, spending $88 million; however, affordable housing is in huge demand, and the rental crisis is increasing. If you’re looking to buy properties that meet the needs of this demand, you will be far more sheltered from any fall in prices.
There are always exceptional deals out there, but in today’s market, it’s more important than ever to have the right experience and expertise to find, vet, and finance them. Don’t worry. You don’t have to navigate this real estate journey alone. We can help!
We Can Help!
Now is the time to buy. At OneCorp, we want to give you the confidence and financial wisdom to know what your budget can realistically handle in today’s Aussie Housing Investment market. Plus, if you know how to leverage your investment property correctly, you can use it to pay down your mortgage faster and better navigate financial market shifts.
If you’re ready to get started on your investment property journey, now is the time. With interest rates still at a reasonable low and the price of properties dropping, now is the ideal time to dive in before prices inflate.
We can help you create a property investment strategy that’s perfect for your goals!
At OneCorp, we combine your vision with our knowledge. We’ll help you find your dream property while holding your hand through the whole process!
Getting started on your investment property journey has never been easier:
- We start by helping you set clear goals and objectives as to what you want to achieve through property investment.
- From there, we run the numbers through proprietary software to accurately assess exactly what you need out of a property portfolio to achieve those goals.
- Lastly, we find the perfect property to make those objectives a reality!
With our tried-and-true system, our average client sees a huge reduction in their mortgage term, fantastic tax benefits, and most importantly, more money each week in their back pocket while building wealth for a prosperous future.
Don’t wait for the market to shift again—now is the time to buy; get started today! You can schedule a free consultation with one of our licensed property specialists HERE.
