HOW MUCH INCREASE?
I’ve had some buyers tell me …”Yeah I know, the market has gone up a hundred grand.” Others say it’s up at least 10%. One thing is for sure, the lagging indicators of sale prices that find their way to the surface two or three months after settlement are not reflecting the current hype in the market. The official national figure for 2021 year-on-year dwellings growth is 5.9%.
WHAT DO WE DO?
Over the long-term real estate always seems to go up in value. So why sell now? Maybe you shouldn’t. Maybe holding on to solid assets that are rising in value is a good plan.
One of the benefits of an improved market is that it takes up the slack from previous problems. There were a lot of people that bought properties at the very peak of the market just before the GFC hit. Many of them were still sitting on assets two years ago that were worth less than they paid eleven years earlier.
Maybe this boom will allow them the liquidity to sell and move on.
Another old maxim is, “Buy in the gloom, sell in the boom”
Where are you in the financial cycle of your life? Are you feeling young and still accumulating all you can get your hands on, or is it time to take the win and set up for some golden years?