Interesting question, isn’t it?
The doom mongers (many who missed out on the property boom) say property prices will fall dramatically (and so do most newspaper columnists), yet the property ‘optimists’ say that now is a very good time to start buying.
So who is right?
Everybody has an opinion but what I always say to myself is “look at the person who is giving the opinion and what their motive is.” For example, if someone is selling property, will they say prices are going to fall? And which headline sells more newspapers? Prices to Crash by 30% or Prices to Drop by 3%?
Nobody knows how far property prices will fall (if they do) and how quickly they will recover. The important point is that if your property investment deal stacks up, there is no reason not to buy in the current market for the long term.
In fact, experienced and smart investors are starting to see some GREAT deals coming through now!
The important thing now is to make sure you can answer ‘YES‘ to the following three questions:
