Latest News
GROWTH IS LOW AND CONFIDENCE IS DOWN-IT'S A GREAT TIME TO BUY!!
Friday, September 04, 2009
Warren Buffet loves pessimism. The world's greatest investor, Buffett knows that the right time to buy is when others aren't.
So, if you're considering investing in property, then right now, when we're at or near the bottom of the economic downturn, is a pretty good time to buy, and the Northern inner city is an excellent place to do it.
Throughout the global financial crisis property prices in the city/North Perth area have remained relatively stable.
That's in marked contrast to Perth's coastal suburbs.
North Perth and the city may not have experienced the big surge in capital growth of the coastal susburbs at the height of the boom, but it was not hit anywhere nearly as hard by the downturn, where some properties shed $100,000 of value in a matter of months.
North Perth remains a solid investment because it offers an inner-city lifestyle that attracts a wide variety of people from young people leaving home to baby boomers looking to down-size from the family home. That keeps demand for inner city homes consistently strong.
While the future is always hard to predict it seems reasonable to expect capital growth to occur in the inner city over the medium and long term.
New developments have been placed on hold as a result of the downturn, limiting the supplies of homes in the face of consistent demand, a situation that's sure to put upward pressure on prices.
On of the few sure bets in economics is that bad times don't last forever and that Western Australia's economic downturn will end.
If you're renting in the inner city metro area, love the lifestyle and you're thinking about investing in a property, why not give us a call today on 9227 6666.