While recent headlines on the housing downturn may prompt uncertainty, prospective buyers shouldn’t be discouraged.
Much is being written on declining sales results in Australia’s capital city property markets, particularly Melbourne and Sydney. However, these price falls follow a prolonged period of exceptional growth and the market’s underlying fundamentals remain strong.
Looking beyond the headlines there’s much to reassure prospective purchasers. Australia’s property market is underpinned by record low interest rates, a stable and robust economy with plentiful job opportunities and strong population growth, including ongoing high net overseas migration. There are still great stamp duty savings and first home buyer incentives available to support purchases.
I believe the period we now see ourselves in is a natural phase that takes place in any market. It’s part of a continuing cycle and if you’re buying a house and or a house and land package there’s no need to lose confidence because of short-term fluctuations.
For further information on our current property market, please call Andrea Tucker on 0402 487 887