Now is the time to buy Australian property
Now is the time to get on the Australian property market, according to an entrepreneur from the country.
Speaking to over 3,000 estate agents at the Australian Real Estate Conference on the Gold Coast, John Symond predicted that the property market will return to confidence after the federal election and move quickly after September.
He said that the “bottomed out” house prices combined with the historically low interest rates created the ideal environment for a property market recovery.
"If you want to pick a time to get into housing, you can't get a much better time than now,” he explained.
"We have the lowest interest rates on record, which may even go a little lower, and we have seen the housing market bottom, while there is evidence right around Australia that prices are increasing."
Mr Symond inspired the delegates with tales of how he had bounced back from near-bankruptcy so found his company the Aussie Home Loans Business.
He suggested that the only missing ingredient from the property market recovery is confidence, but was bullish that optimism would return after the election later this year.
"First-home buyers are now able to borrow money at five per cent, that's a better incentive than any grant," Mr Symond said.
"Pricing today is very attractive when you compare it to the last ten years and affordability is the best its been for many, many years - and that's the best time to get into housing."
His comments follow a report by The Economist which found that Australian property prices rose by just 2.6 per cent in the past year to March 2013. This makes it the tenth best performing property market in the world out of the 18 measured.
Hong Kong, Brazil, South Africa and India were some of the nations ahead of Australia in the chart.
Last year the country appeared 18th out of the 21 best performing housing markets as rated by the magazine.
Nevertheless, Mr Symond stressed that property should always be a long term investment and not a “quick kill” option, given the propensity for the markets to boom and bust.
Speaking to over 3,000 estate agents at the Australian Real Estate Conference on the Gold Coast, John Symond predicted that the property market will return to confidence after the federal election and move quickly after September.
He said that the “bottomed out” house prices combined with the historically low interest rates created the ideal environment for a property market recovery.
"If you want to pick a time to get into housing, you can't get a much better time than now,” he explained.
"We have the lowest interest rates on record, which may even go a little lower, and we have seen the housing market bottom, while there is evidence right around Australia that prices are increasing."
Mr Symond inspired the delegates with tales of how he had bounced back from near-bankruptcy so found his company the Aussie Home Loans Business.
He suggested that the only missing ingredient from the property market recovery is confidence, but was bullish that optimism would return after the election later this year.
"First-home buyers are now able to borrow money at five per cent, that's a better incentive than any grant," Mr Symond said.
"Pricing today is very attractive when you compare it to the last ten years and affordability is the best its been for many, many years - and that's the best time to get into housing."
His comments follow a report by The Economist which found that Australian property prices rose by just 2.6 per cent in the past year to March 2013. This makes it the tenth best performing property market in the world out of the 18 measured.
Hong Kong, Brazil, South Africa and India were some of the nations ahead of Australia in the chart.
Last year the country appeared 18th out of the 21 best performing housing markets as rated by the magazine.
Nevertheless, Mr Symond stressed that property should always be a long term investment and not a “quick kill” option, given the propensity for the markets to boom and bust.
PUBLISHED : 21ST MAY 2013
