Given all the news in the media at the moment, it can be confusing to know if it’s a good time to buy or sell.
So let’s look at the facts, and then look at what advice I have given people for the last 20 years. The facts are, interest rates are at an all-time low, property affordability is at the levels it was in the ‘90’s, and we are in a recovering market, which means that confidence has returned to the market. The recovery phase is generally one of the best times financially to either be buying or selling. “Why?” you might ask?
Put simply, a recovering market is the prelude to a rising market. The market is already showing signs of starting to increase in Sydney. In a rising market, it is more costly to sell and buy, as all fees associated with both are higher, and time in between selling and buying (when selling) often results in the difference in between your sales price and purchase price being greater.
With that said, the best time to do either is when you are ready to sell or you have found a home you LOVE.