Our property markets couldn't look more different from this time last year if they tried.
Gone are the frenzied buyers gripped by FOMO, housing markets in which prices rose by $1200 a day, and auctions that routinely finished millions of dollars over their reserve.
Last year's scenario of never-ending price rises has been replaced by rapid-fire interest rate rises (with more to come), slowing or falling prices (depending on your postcode), and a general sense of trepidation.
If you're a buyer, do you sit on your hands and wait for prices to fall? Or do you buy now before interest rates and inflation rise even more, reducing your borrowing power and spending capacity?
If you're a seller, do you list now and meet the market before prices possibly fall further? Or do you hold off, assuming there will be less for sale in a few months, meaning fewer homes to compete with?
In other words, what's the right thing to do now – buy, sell, or hold?
That's what I ask leading financial advisor Stuart Weymss, in today's show.
Links and Resources:
Michael Yardney
Stuart Wemyss – Prosolution Private Clients
Stuart's Book – Rules of the Lending Game & Investopoly
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Shownotes plus more here: Here's why now is a good time to buy your next property, with Stuart Wemyss
