{"id":25179,"date":"2015-01-29T16:28:21","date_gmt":"2015-01-29T05:28:21","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=3365"},"modified":"2015-01-29T16:28:21","modified_gmt":"2015-01-29T05:28:21","slug":"missed-real-estate-boat-2","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/missed-real-estate-boat-2\/","title":{"rendered":"Have you missed the real estate boat? | John McGrath"},"content":{"rendered":"

In his recent column in\u00a0Switzer<\/a>, John McGrath\u00a0explains why there is always a good time to buy property.<\/p>\n

Here\u2019s what he said:<\/h4>\n

Following exceptionally strong growth in Sydney house prices over the past two years (RP Data reports 13.4% in 2014 and 15.2% in 2013), buyers might be asking themselves if they’ve missed their opportunity to buy.\"John<\/p>\n

It\u2019s understandable psychology, especially if you\u2019ve been in the market for a long time and missed out on several properties.<\/p>\n

But the short answer here is no, you haven\u2019t missed the boat.<\/p>\n

There are always opportunities \u2013 even in hot markets; and as property should always be a long-term play, a premium price paid today \u2013 within reason, won\u2019t matter much in 10 years\u2019 time when your home\u2019s value has doubled or gone close to it.<\/p>\n

Sure, it\u2019s not ideal to buy in a boom. We\u2019d all like to purchase in the dead of a market and ride the wave of capital growth when the cycle turns.<\/p>\n

But few people get this sort of timing right.\u00a0 For the ordinary Sydney buyer, the old adage that time\u00a0in the market<\/em>\u00a0is more important than\u00a0timing the market\u00a0<\/em>holds pretty true.<\/p>\n

Here\u2019s something else that buyers commonly wonder after a prolonged period of growth.<\/p>\n

\"619098-house-in-trap\"Should I wait for prices to fall?<\/p>\n

This is a classic trap and it\u2019s an easy one to get caught up in when we\u2019re hearing scare stories every day about the mythical \u2018property bubble\u2019.<\/p>\n

Consider this. Our company finished 2014 with $2.29 billion in sales over the last two months of 2014 alone.<\/p>\n

This included a 25-year record in November with $1.27 billion.<\/p>\n

This sort of strong sales activity isn\u2019t going to come to a screaming halt just one month later.<\/p>\n

Property markets move pretty slowly compared to other assets, like stocks.<\/p>\n

The outlook<\/h4>\n

Here\u2019s what I think is going to happen this year.<\/p>\n

After two very strong years of growth in Sydney, the rate of growth is going to slow.<\/p>\n

\"\"<\/p>\n

Let me emphasise I\u2019m talking about\u00a0the rate of growth<\/em>. Price growth will continue in 2015 but it won\u2019t be at the heady levels of 2013 and 2014.<\/p>\n

I think house prices will rise about 5-8% \u2013 that\u2019s half the rate of 2014 but still pretty good, wouldn’t you say?<\/p>\n

Over the next three years, I think we\u2019ll see Sydney prices move forward by 20% overall \u2013 so we\u2019re talking 5-8% average growth per year in 2015, 2016 and 2017.<\/p>\n

With that in mind, buying now doesn\u2019t seem too risky a decision. Spend $500,000 today and if my predictions are right, in three years that property will have made you $100,000.<\/p>\n

Our first auctions in Sydney will start next month, with February 21 and February 28 already shaping up to be exceptionally busy days.<\/p>\n

Further afield, I think South-East Queensland will be the best performer on a national level for the next year or two. I\u2019m predicting price growth of around 10-12% in 2015.<\/p>\n

South-East Queensland has only just shifted off the bottom.\u00a0 Brisbane will lead in terms of price growth, followed by the Gold Coast.<\/p>\n

I\u2019m also expecting price growth on the Sunshine Coast and in inland Toowoomba, where local factors like the new hospital on the coast and the new airport in Toowoomba should impact property prices in a very positive way.<\/p>\n","protected":false},"excerpt":{"rendered":"

In his recent column in\u00a0Switzer, John McGrath\u00a0explains why there is always a good time to buy property. Here\u2019s what he said: Following exceptionally strong growth in Sydney house prices over the past two years (RP Data reports 13.4% in 2014 and 15.2% in 2013), buyers…<\/p>\n","protected":false},"author":176692473,"featured_media":3368,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13],"tags":[],"class_list":["post-25179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-story"],"yoast_head":"\nHave you missed the real estate boat? | John McGrath - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/missed-real-estate-boat-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Have you missed the real estate boat? | John McGrath - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"In his recent column in\u00a0Switzer, John McGrath\u00a0explains why there is always a good time to buy property. 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