I’m not sure about you but I can’t actually remember a time where the media wrote something positive about property. A few years ago we were told not to buy because the market was so inflated and now we are being told not to buy because apparently prices are going to drop dramatically.
There was a piece written in one of our major papers on Sunday, and the opening line was about how many people were selling property for less than what they purchased it for – what was later stated was that these people had to sell, they were forced sales on properties they could not afford to hold and which were sold within a short period of them owing it… of course they sold for less than what they paid, they were selling under duress!!! What I find so annoying about this is that the average Joe reads this and genuinely thinks that all these forced sales are going to introduce cheep property to the market, but what the paper didn’t write about was that these properties were often in areas that would not be highly regarded from an investment point of view and if they bought that property cheaply they would find themselves in the same position. I’ll say it now and ill say it again, if you invest in property it’s not about TIMING THE MARKET – ITS TIME IN THE MARKET! If you purchase a quality property, in a boutique development, outside the city but within say a 15k radios and hold onto it for the long term you will see strong capital growth.. Of course there will be times when the market is flat or doesn’t increase as much as the last but it will improve over time. I will add that the article in the paper did end up being more balanced than first thought however the balancing came after the shocking headline and was finished off several pages later.