Written on the 15th of September 2011 by Zoran Solano
THE REAL ESTATE TRAIN IS ABOUT TO LEAVE…
DON’T MISS OUT!
People always ask me, where are we in the property cycle? Are we at the bottom yet? Is now the time to buy? Etc etc , so I thought this might help answer some of those questions.
In the last 1 to 2 months we have seen vendor discounting reach an all time high! This means sellers are getting realistic and meeting the market by lowering their asking price!
Since this discounting started, we have seen property really start to move as buyers start to cotton on to the possibilities in the market place. This has been evident in a wide range of price brackets around Brisbane. This movement in property sales is in my opinion is a sign that the market is changing.
Below is a property clock sourced by the well known real estate commentator Michael Matusik, it shows the different stages of the property cycle and the key indicators of each ¼ of the cycle.
This next clock shows the different positions at which each capital city around Australia is in, by evaluating each city against the indicators on the previous image, you can see that Brisbane is positioned towards the lower end of the property cycle.
Historically buying at the bottom of the property cycle gives you the best possible position for growth moving into the future, furthermore if you listen to many of the well known real estate experts NOW is that time! And I 100% agree.
You can see from the above graph that even within South East QLD different areas are at different points on the clock. And as buyers agents we can attempt to influence the down swinging market to achieve better than anticipated purchase prices.
Other factors to consider is that rental demand is still strong throughout Brisbane and the South East Queensland, this strong rental remand has seen rental yield figures look more and more attractive to a wide range of investors.
If you would like to take advantage of these market conditions feel free to contact one of the Hot Property Specialists Team to begin planning your property goals!
Complied by Zoran Solano (Buyers Agent) with source material from Michael Matusik
Please note: We are not financial advisors and you should always seek advice from your accountant/ advisor.