Buyers urged to act now

FACT: In 1980 the average Sydney house price was $65,000 and it is now around $1million. This means the median price has risen roughly 15 times in 36 years.

FACT: In 1980 the average Sydney house price was $65,000 and it is now around $1million. This means the median price has risen roughly 15 times in 36 years.

It’s often said that timing is everything when investing, with majority of real estate experts and media claiming that investors should 'time' their purchase based on the best market conditions.

In 1980 the average Sydney house price was $65,000 and it is now around $1M. This means the median price has risen roughly 15 times in 36 years, and is a reflection of the Australian property market. If this was the case you could be in a comfortable financial state and the main reason is time in the market, not timing.

There is a long list of successful Australian property investors who acted while others were busy pondering during what was considered a poor time. An example is Zaki Ameer who went on to build himself a portfolio of 10 properties totaling $3 million in a few years.

In 2008 after the GFC, Zaki purchased a house in Port Macquarie for $80,000 during a period when investors were shying away from the market.

Banks pulled the plug on lending, especially for the kind Zaki had his eye on as a burnt down three-bedder requiring major reparations.

However, after three months Zaki found the right contractor to renovate it, and the property was valued at $280,000, making a profit of $100,000, post renovation cost.

Today Zaki is a real estate author and Founder of Dream Design Property.

“Now is always the best time to buy. The greatest cost of investing is the cost of not doing anything. People spend so much time agonising or being stuck in 'analysis paralysis', trying to buy a property and often waiting and waiting for some magical, 'perfect' deal, when they could have easily bought one or more great properties that would have risen in value over time as the market rose.” Mr Ameer said.

“In areas where new infrastructure has been planned, invest before infrastructure is completed and prices increase. Infrastructure such as new schools, hospitals and shopping centres attract area growth.” Mr Ameer said.

TIME TO BUY

TIME TO BUY

“Comprehensive data on rising markets, high rental return opportunities and information regarding future infrastructure changes and progress will make it easier to identify potential opportunities all over Australia.”

“The median house price has been projected to be as high as $6.4M in 2050 so people should look to buy investment properties as early as possible in life. Interest rates are at historic lows giving investors another incentive to plough their cash into real estate, which will likely push up house prices in the hottest markets” Mr Ameer said.

The story Buyers urged to act now first appeared on Wingham Chronicle.

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