“Investing in property can be a great long-term strategy. It’s important to keep in mind that timing the market perfectly is a challenge and economists have varying predictions on when the market may bottom out. However, there is currently an abundance of properties available on the market, giving potential buyers more choices and opportunities to get a good deal. Instead of focusing on timing the market, it’s more beneficial to focus on staying in the market for the long-term.”
John Kenel
Assured Property
FULL ARTICLE FROM NZHERALD BELOW:
Each week BusinessDesk and the NZ Herald’s Cooking the Books podcast tackles a different money problem. Today, it’s how to handle a falling property market, whether you’re an investor or first home buyer. Hosted by Frances Cook.
Slides at the park might be a bit of fun, but when it comes to the property market, the latest downward slide has probably not left many people laughing.
Real Estate Institute data shows sales are way down, 39 per cent year-on-year, while Auckland house prices have fallen 18 per cent to a new median value of $1.05 million.
The median sale price for New Zealand overall fell over the past year by 12 per cent to $790,000.
Now, property always has winners and losers. Frankly, a lot of first-home buyers will be excited to hear this, and feel like now is a great time to be buying. They’re not wrong.
However, I’ve also had lots of messages from people who would like to invest in property at some stage, wondering if that’s still a good idea, or if the best time has been and gone.
You know me, I love to make sure we’re answering your burning questions.
So, let’s get into it – what do you need to know if you’re a first-home buyer, how is it different if you want to invest, and are there any mortgage tips and tricks to help you out along the way?
For the latest podcast, I talked to Ed McKnight from Opes Partners
For the interview, listen to the podcast here.
