Not All Doom and Gloom
This year is going to be a very interesting year. Along with the rest of the world, we are currently experiencing one of the worst financial crises in our modern history. The bad news is that some people will lose their jobs and business investment has decreased significantly, but the good news is that interest rates are currently at an historical low and are set to drop further.
If you sift through all the doom and gloom stories, there are currently some good opportunities available to all of us.
Firstly property prices around most of the country dropped slightly last year which now provides investors and home buyers with some possible “bargain buying” opportunities.
Secondly, rents are on the increase which results in a higher yield for the investor but also encourages tenants to start looking at buying a property, rather than renting. With the federal governments First Home Owners Boost greatly assisting with getting more people get into the property market.
Finally, and most importantly, mortgage repayments have almost halved over the past year which makes buying multiple properties (and some of them positively geared) a reality.
“There has never been a better time to buy property” - How many times have you heard this catch phrase from property spruikers and slick sales people?
Well, this time its true!
With interest rates at a 45 year low, and with a current housing shortage in Australia, more incentives for First Home Owners to enter the property market, more positively geared investment properties avaliable and a property market that will see prices once again boom over the coming years - Why wouldn’t you want to buy.
Tags: Add new tag, Economy, Fairway Homeloans, House Puchasing, Interest Rates, Investors, Mortgage, Property, RBA