ARE WE THERE YET?

It’s amazing how the messages in the media have changed in recent times. Not that long ago they were telling us property prices would drop significantly, with some property pessimists suggesting we could see a property values fall 10, 20 and even up to 30 per cent.

Today the common theme is that the property market will turn later this year or early next year, with many asking “have we reached the market bottom yet?” But as they say – no one rings a bell when we reach the bottom, so how do you pick the turning point in the property market?

Well…my suggestion is not to even try and pick the bottom, because even the smartest economists armed with all the data can’t do that. Instead, if you’re a home buyer or property investor and you have a secure job and your finance organised, now is an ideal time to purchase your next property countercyclically knowing your downside is minimised and your upside is maximised.