Have you checked out the current scene of Australian real estate market? If you are a keen observer and an ardent real estate market follower, you would’ve noticed how fast the dynamics of the market are changing.
From rising inflation, to increases in prices, to projected price tags of property in the coming years, everything is drastically changing creating a gap between the supply and demand in the market. Trust me, if the gap is invisible now, it will be seen from ten feet apart in years to come.
In a series of 2 parts, me and my co-host Cheryl have highlighted how the market dynamics are changing and what are the factors that are influencing the market. And most importantly, why it is not a good idea to buy a property to live in – right now!
We discussed the surge in house prices and the challenges faced by first-time buyers as well as explored the disparity between established properties and brand new properties, with established properties offering more value. You need to understand the importance of considering long-term financial goals and the impact of equity and serviceability on accessing funds. One cannot deny the role of the Reserve Bank of Australia (RBA) and the factors that influence interest rate cuts.
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Episode Highlights:
- 00:00 Welcome to Help Me Buy Property Podcast
- 05:03 Considerations for First-Time Buyers in the Current Market
- 11:29 Buying a Property to Live in vs. Investing
- 16:14 The Role of the Reserve Bank of Australia in Interest Rate Cuts
