Taking a peek into the property prospects in Sydney might deter some first time buyers, especially with the way prices have been on a steady hike in recent years. But are there any signs of this trend slowing down any time soon?
Lots of property hunters are becoming more and more indifferent with their dreams of snagging the perfect place considering that the median house sale price is now 13% up from its value last year. With this in mind, it seems reasonable to ask – when is it the right time to invest in a property in Sydney?
The answer to that question is right now! Yes, prices are up by 13%, but that doesn’t mean you can’t take advantage of this prime time for properties. Consider this – if you put your property on the market today, you might see its price shoot up two-fold thanks to the hot market constantly pushing costs up, thanks to the many bidders and interested individuals. Selling your property at this point in time means you can simply make the most of what you have and get more in return than you would if you waited for the market to cool down.
Another great reason to sell now and buy now is the unbelievably low interest rates. If you were able to sell your property for a reasonable price, you will have enough funds to secure a prime property by taking out a loan. Yes, a lot of us might not want to take another loan at this point in time, but it’s worth mentioning that interest rates are lower than ever. That means you can enjoy the benefits of a decent home loan without worrying about cost increases for years.
The right time to invest in a property in Sydney is today. Yes, the price for properties seems to be on a steady rise, but why would you want to sit back and relax now? Make the smart move and take part in the property party by selling your house and making the most of it. With prices this high and interest rates so low, you can be sure to secure a decent home without spending as much as you would during colder seasons in the property market.