Find out what one of our lovely owners thinks of us!
This is a Crime…
This is not a headline from 1999! This is now! July 2011 and the property is not some tumble down wreck, it is a 3 bedroom high set home in Charles Street, Aitkenvale.
REIQ statistics for the March quarter show sales volumes are down another 25% on last years record low, but this is not bad news for everybody. Low sales volumes and a lack of confidence all add up to an oversupply of bargain priced property and buyers are definitely in the driving seat. Anyone trying to sell a house will tell you times are tough and purchases are almost non-existent but for those who are in the market to add to their portfolio this presents an amazing opportunity.
When is bad news really good news?
The house mentioned above was purchased by one of our owners who has been looking closely. He has made several offers on other properties (most well below asking price) before having his offer accepted. With the banks now talking about dropping interest rates instead of increasing, it’s hard to see the market falling much further. So if I was a betting man (and I can be) I would be placing a little wager that we just hit the bottom of the market. Factoring in that prices in some cases are down as much as 30%, if you have been waiting for the market to hit bottom right now must be a great time for any long term investor to add a new property to their portfolio at rock bottom prices!