Or would you go for it anyway? I'm just wondering how investors compare to first home purchasers which are still flocking to purchase property en masse. Is there really any chance of a fall in prices in the next couple of years?
Announcement
Collapse
No announcement yet.
If you were looking to purchase your first investment property now, would you wait?
Collapse
X
-
Are you in Auckland?
Property prices don't usually fall much in nominal amounts, but prices can stay the same for many years, so in real terms (that is taking into account inflation) they fall. Outside Auckland and Christchurch you see that prices are pretty much unchanged since 2007, so if you can afford the property and wait, I think you can be pretty sure prices won't fall in either nominal or real terms. I wouldn't like to comment on Auckland or Christchurch, I really have no idea.
-
Originally posted by Toye View PostIs there really any chance of a fall in prices in the next couple of years?I'm just thinking we may be hitting another 2007/8 fall (10 ~ 15%) because the prices are getting out of hand, esp. in West Auckland where some areas have gone up up to 30% in the last year.
1. Is the Auckland population decreasing, increasing or staying the same?
2. Is there a shortage of houses in Auckland?
Once you have the answers then you will see which way Auckland house prices will go.
Comment
-
Hello, I think you need to determine if its a long term investment strategy eg 20 + years. If yes then now is always the best time to buy if you are doing the basics right and working on numbers and no emotion. Your budget will determine whether you buy in Auckland or in another location to get the return you need.Craig PopeCraig Pope Mortgages & Insurance
www.craigpope.co.nz
Comment
Comment