Capitalising on a buyers' market
There are real opportunities awaiting home buyers and investors who are willing to take the plunge. The property market has been relatively flat in some areas. We have seen prices soften across some segments and also new home sales fall.
With the number of listings soaring and fewer buyers around the traps, it is prime time for those armed with a sizeable deposit.
Get your house in order
A buyer’s market, in which the volume of property listings exceeds buyer demand, typically exists during periods of weak or negative consumer sentiment. Understanding the right time to buy is key to successful investment, and while the risks may appear high, the likely returns can make buying a worthwhile decision.
With doubts surrounding the global economy beginning to wane and a possible interest rate cut in the offing, now is the time to strike.
Many investors aim to capitalise on a market with fewer buyers actively in search of a new home as this puts greater negotiating power in the hands of those willing to buck the trend. Investors and home buyers with a sizeable deposit behind them will have greater ability to influence the price of a property.
Even more important, buyers that have finance pre-approved can more quickly and with more authority negotiate with an agent, as they will know that you’re a serious player and will therefore negotiate knowing an outcome can be realised.
If you’d like to assess your current borrowing capacity with view to capitalise on the current market, and to arrange a mortgage pre-approval, give us a call today.