A gentle reminder for shoppers who chose to wait for house prices to fall this year: it is time to stop. According to top buyer’s advocate Patrick Bright, there is no assurance whether prices would rise or fall in over the coming months. Bright, who is the director of the Sydney-based EPS Property Search, pointed out that he had seen a lot of buyers who chose to wait for the price drop even though Melbourne has been experiencing a now five-year-long growth cycle. Sad to say, these people ended up experiencing being priced out of the market.
“Given most people spend several months searching for their dream home, if you see it and you can afford it, then you should go for it,” he said via News.com.au. “If you’re a homebuyer with the intention of staying put for the next 10-20 years, I don’t see the point of putting your life on hold in the hope of saving a few dollars based on a possibility that the market may fall.”
Backing up Bright’s advice, CoreLogic state director for Victoria Geoff White pushed buyers who already found the home that is perfect for their budget and already had checked their checklist to go for it and make an offer. However, he also warned to become cautious if buyers whose plan is to flip houses.
“There’s not much evidence to say the market’s going to dip substantially enough to make it a full-on buyer’s market,” Mr White said via News.com.au. “Buying real estate is not like trading stock — people tend to hold on for a long period.”
“So if the market does flatten, it will pick up again. History has shown you should come out on top,” he said via News.com.au.
Market trends are always hard to predict. And as property prices in the country have no assurance of dropping, experts warn that homebuyers should not wait for prices to drop and buy the property they have found that is within their budget range and preference. Home searching is tiring and confusing, make it easier with a trusted business brokers Melbourne company who has a vast experience in finding the right home for every customer.
To find the perfect home for you and your family in Melbourne, call National Brokers Network today 03 9226 9222 or 03 9078 6315 or email businessbrokersvictoria@rhc.com.au
