With Australia entering a new era of ultra low interest rates and sitting on a historical low of 2.7 with 2% expected by next year, it gives investors options that they've never had before.
For first home buyers, it may actually be cheaper to buy now and pay a full mortgage than to rent. Perhaps this is a good time to move back home and save that rent money for a deposit and jump into the market or ask for some help from the family and get in right now.
For existing home owners wanting to invest in property, its never been cheaper to take out equity to raise the deposit needed to start building a real estate nest egg. Many people would find that their borrowing power has increased due to the reduction in interest payments, meaning they could stretch to a better property that they’ve always wanted but have been holding out for.
The key is to act now!
Historically, with low interest rates comes buoyant prices and the recovery is well underway in Sydney with clearance rates at 77% a week ago.
Others are seeing the opportunity and the market will rise with or without you.