Michael Matusik is a respected long time property analyst with a history of accurate comments about the property market.
Basically what his graph explains is that prices in Queensland tend to peak, drop then remain flat for a long time… until the next boom … which is expected leading up to the Brisbane Olympic Games in 2032.
*** CHECK OUT THE GRAPH AT THE BOTTOM OF THIS ARTICLE ***
Those that read my emails regularly will tell you that I did not promote selling during the boom. I helped those that wanted to sell but I did not push, promote or chase. And way back, even before we knew it was going to be a boom, you’ll remember that I said, “sell now or wait it out”.
Crazy right? I’m an agent. I only make money when you sell. Why wouldn’t I push for sales in a boom!?!
But I don’t think like an agent, Ive trained myself to think like an investor and investors want value. I want value for my clients, because the laws of nature dictate that in the long run we are only rewarded for the value we create, not the hype.
After all, why should someone sell when there’s still money left in the market? Excepting personal choices, they shouldn’t.
I’ve been doing this (real estate sales) for over 20 years, and different to the stereotypical agent, I’d much rather be known for adding value when the time is right for you.
To help you determine if it’s you that should sell now, consider what your answers to these questions would be …
Are you willing to 100% commit to holding this property until 2032?
If so, keep it. It’ll be worth more then and you’ll save on transaction costs.
If not, sell now. Surely you can find a better way to invest in the next 6-8 years.
Do you love where you live?
Can you easily afford the repayments now, what if they double?
(‘Easily’ in my world is defined as 15-25% of your cash in hand income, towards the mortgage)
If so, stay and be happy.
If not, consider downsizing. Sell now, so you can release the stress of watching news headlines about rate hikes, gain some peace of mind and keep enjoying the enviable lifestyle we have in Queensland.