Pete Wargent, co-founder of BuyersBuyers, predicts that the two months surrounding this holiday season could provide a good opportunity to seize a wise investment.
“Often times we see clients buying a property lose a bit of interest at this time of year, as thoughts turn to summer vacation or more festive activities than kicking off a holiday. property search. But with the increase in new listings, some buyers are feeling a window of opportunity to buy before the international borders fully reopen in 2022, particularly in Sydney and Melbourne, ”he noted.
But don’t expect the luck to last long, advised Doron Peleg, CEO of BuyersBuyers.
“There is a brief period before the record number of overseas arrivals is low [will be] replaced by a new wave of arrivals, ”he noted.
“The permanent immigration cap could even be raised to over 200,000 in time to alleviate Australia’s skills shortage. Logically, buyers should have less competition and potentially more choice before international travel resumes in earnest, ”said Peleg.
Mr Wargent noted that there are probably more than a few on the market that would normally have canceled the holiday period, but said that “December and January can be an exciting time to buy a property, with less competition.”
Agreeing with Mr Peleg, he said that if an influx of supply coincided with a decline in demand, the time would be short.
“Immigration has been high in Australia for the past 15 years, and it will be high again relatively soon. But for a brief period there may be an opportunity to trap a beneficial buy, ”he said.
But the advice doesn’t come without its own warning. Mr Wargent also warned buyers not to rush if the timing doesn’t match their plans.
“Ideally, buyers shouldn’t focus too much on small price movements, as they tend to be relatively small over a decade. Instead, try to think about where the prices will be 10 years from now, ”he said.
He tells home buyers to focus on prices in the medium to long term.
“Until relatively recently, the idea of a monthly or daily house price report was relatively obscure to most people. However, it is important to remember that due to transaction costs, property tends to perform better if you plan to hold the asset for a reasonable period of time.