The right time to buy has long existed as a question for property analysts and agents alike.
But with the latest Corelogic data showing an ease in the rate of the housing market decline, it’s a question that can now be answered with far greater certainty: time is officially running out to snap up a property bargain in South West Sydney.
While there is no reliable system for predicting the housing market, results mark a steady improvement, with Sydney’s rate of decline easing from 4.1% to 1% over February 2019.
For first home buyers and investors, it’s almost a solid plateau that could in fact mean that the bottom of the market is arriving, with housing affordability at its prime.
According to Prudential Real Estate Director Michael O’Sullivan, “if you’re selling, you can sell now with certainty. Buyers are genuine, and there are lots of homes on the market after you sell.”
While the bottom of the market won’t be clear until it’s passed, it’s without question that now is the time to buy with prices continuing to drift.
The prospect has already excited a number of home seekers who hope to secure top value for their money, before a sudden rush to the market drives further competition and causes prices to go back up.