Is now the right time to buy in Perth?

Buying a home is typically the biggest investment that an individual will make in their lifetime. So it is little wonder that there is much trepidation around this decision. Whether you are thinking about entering the market, thinking of selling and moving up or down, this decision is not one that should be taken lightly.

The biggest question that people have around this investment decision is all about timing. Is now the right time to buy? Is now the right time to enter the market? Should I buy an investment property now? What if I wait another year before I enter the housing market?

The question of timing becomes even more prevalent in times of economic uncertainty. So what are my thoughts on this subject? In Perth, the housing market has shown a retraction in its pricing. This has caused much concern for home owners. But this retraction combined with the drop in interest rates last week is sure to encourage more interest in the market. 

So what does this mean to you? Well if you are looking to enter the market as a first home owner then now is a good time to buy. There are some really good houses that are below the $500,000 price point and if you are considering building a new home the builders are offering some terrific packages with lots of ‘extras’being thrown in to encourage you to buy.

If you are thinking about purchasing an investment property the slightly lower prices in Perth mean better buying power. This equates to getting a better house for your money or considering more than one investment property.

I hope my thoughts are helpful. Remember there are lots of different opinions around on this hot topic. Don’t be afraid to ask for advice or opinions from family members or friends whose opinion you respect. The better informed you are before you make a decision, the more likely you are to make the right decision.