Bargains not likely as mortgage arrears drop

I hear a lot of people talking about holding off getting started in property investment because they think there will be more mortgagee sales by banks in the future. This theory has been proved incorrect after the global credit rating agency Moody’s has shown that the number of people in arrears by 30 – 60 day in Australia has dropped significantly. Month on month it has dropped from 0.74% to 0.66% which is a fall of 10%. These levels are extremely low by world standards. A year ago they were 1.64% in Australia showing a significant drop from this time last year.

This is a great sign that the Australian property market is strengthening. The idea of waiting for mortgage sales to come up is just an excuse for most people to put off getting started in property investment.