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It’s no secret that Perth’s property market is currently experiencing a downturn due to a few factors such as the mining downturn in WA, increasing unemployment rate, increase in mortgage rates and the changes in bank’s non-price lending terms. As per REIWA, the Australian Bureau of Statistic’s latest housing finance figures indicate that investor’s activity in the Australian property market is decreasing.
Negative sentiment in the market place is actually worked in your benefit. Let’s recall back the economic basics: supply and demand rule. Price itself is a reflection of supply and demand relationship. The current supply in property market has not changed considerable, but demand has definitely declined. When supply exceeds demand, price will go down. Looking at this state of affairs, property prices are about to experience a big fall. This is your chance. If your in for the long term investment and return, you will be looking for opportunities in the market.
“Don’t buy the house, but the neighborhood” (Russian proverbs). Choosing the right property at the right location is the key. Successful investors maximize their strengths and get professional advice. They can help you with investment advice, current market updates, and give you the right direction for finance and other necessary requirements.
*please note this is the personal opinion of the blogger*
Author – Anita Carolina – Trust Account Manager