I was reading an interview with Harcourts owner Mike Green recently. I have personally been in property for a long time and I heard a great one liner in the interview that I had not heard before.
“Property will never be cheaper than it is today”

What a great saying! Property just continues to grow in the longer term. It just keeps creeping up. Mike made a very good statement that I think everyone should take note of. When is the best time to buy? Well, you can’t buy yesterday so it must be today. The market doesn’t wait for you. If you procrastinate – you end up paying more.

I’ll bet that no one in 1970 – when the median house price of Sydney was $18,500, Melbourne was $11,800 and Brisbane was $8,500 – thought that those markets would be : Sydney $1,200,000 Melbourne $950,000 and Brisbane $550,000.

Lesson – when your borrowing capacity allows, get into the market.