YIP editor cautions on spring property market exuberance
Jonathan ChancellorOctober 2, 2014
Nila Sweeney, who has been editing Your Investment Property magazine for the last eight years, is cautioning against buying this spring.
While she doesn't buy into the bubble claims, she has concluded there are simply way too many motivated and desperate buyers out there.
"Too many people are blinded by their fear of missing out," observes Sweeney.
"You will be competing with these buyers who are likely to over-pay and over-leverage just to get their desired property.
"Now is not the time to over-stretch yourself, especially with the ongoing economic uncertainties here in Australia and in the international markets.
"Buying now at the top of the market means you’re limiting your future gains and exposing yourself to losses when the market eventually consolidates."
She adds if you want to buy your investment property, opt for the more affordable option instead and avoid all that stress that comes with big mortgage repayments.
She says there will be opportunities in 2015 once the market moves into a consolidation phase.
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.
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