In this blog piece we take a look at what’s ahead for the Australian property market in the coming year.
CoreLogic predicts house prices to surge in Melbourne, rising up to 14%.
Sydney is expected to have a similar increase of up to 12%.
With both cities likely to reach new peaks by the middle of the year!
If interest rates and leaning restrictions continue to ease, demand will remain strong throughout 2020 and even into 2021.
These factors, coupled with the likely rise in capital gains presents an opportunity for investors who are willing to take advantage of current market conditions.
Melbourne’s property market bounced back considerably quickly after the tough patch experienced throughout mid 2018- mid 2019, however, it is important to not expect quick returns/profits when investing in property.
Investing in property in these market conditions requires a mid-long term mindset where it will be beneficial to hold land/house & land for 5 years+. Getting your finances in order before you invest is essential to making good decisions for yourself and your family moving forward into the next decade.
While any type of investment poses some risk, investing in the property market is always a good investment if you are able to hold the property throughout tough market conditions and wait for the market to bounce back. This is the great thing about property, as long as people need a place to live, your investment becomes low risk and in the right conditions can provide substantial rewards.
2020 provides a great opportunity for new and seasoned investors to break into the market!
For land information or property advice, please contact me to discuss options that suit your needs
Mark@bpg.com.au - 0402 328 604