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  1. #11
    Join Date
    Apr 2005
    Posts
    787

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    Hi Arathorn

    Just a few thoughts to add to Chemill's & Janesco's comments.

    There is still a huge amount of enthusiasm/excitement in the market from buyers and hence from suppliers of property services. The expectation of price growth by the general public is still very prevalent. I believe this head of steam (expectation) will take 2 - 3 years to simmer down. There is always an innertia or resistance to believe (from the general public) that we are entering a 'different' market.

    I agree with Chemill and believe a wise strategy would be to put your $100K in a deposit account, read as many property investment/self improvement books as possible and then review your position in 6 months. A timely read for you would be 'Grow Rich with The Property Cycle' - by Kieran Trass.

    I attended the Property and Investment Expo in Auckland over the weekend and spoke to a number of investors and participents in the finance and property industries. A number of these people were buy and hold investors and were currently in a holding pattern with no intention to buy.

    I believe the urgency in the market has gone and as a potential purchaser time is on your side!

    Quote: 'Although there is never a right time to buy there is also never a wrong time to buy'

    A variation on the above could be:

    'There are more 'right times' to buy when every one else thinks it is the wrong time.'


 

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