Accordingly to our national anthem, Australia is a land that is graced with ?golden soil?.
I don't believe our farmers agree at present though, as drought has stricken a lot of the land. Property backers possibly are not seeing many golden real estate returns for the moment either.
Recent press articles quote leading financial consultants - the likes of Bill Evans. Mr. Evans is the ANZ Bank?s chief economist. In a talk to the Australian Property Institute, he summarized information about the Queensland residential market ?very, very depressing?, and was potentially alarmist with his thoughts on the booming WA market recommending that a day of reckoning was coming.
Against this, other press articles suggest that purchaser optimism is cautiously returning to the property market now that accommodates are way more cost-effective.
What shall we do and who shall we listen to?
Well, if we take elementals, higher resource costs explain higher property prices to a level (in the west). Nonetheless after a while the stockholders take over and the market becomes a hysteria. At this time huge profits can be made with very little effort and everything appears easy.
However , as the eastern states know, all parties ultimately end, which explains why it is essential that you manage your debt and avoid being too geared and loaded with negative cashflow.
For those investing in the east? Bide your time and search for the good deals which exist. Be careful about buying for long term buy and hold as the market may trend down further before it rebounds.
Remember that investing is always about handling your cash to the best of your capability. Now isn't the time to be passive, or to pray that everything will be fine by itself.
To borrow a phrase from the PM, the right way to describe the prevailing property market is to ?be alert but not alarmed. ?.
PropertyInvesting.com is a Web site devoted to investing in real estate in Australia. Would you like to know more info about investment, you may visit property investment blog.
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