Time in the market vs. timing the market
When buying it’s important not to be influenced by the market; like any investment market it moves in cycles and at times it might suit buyers and at other times it might suit sellers when prices are booming.
However, trying to wait for the right time when properties will drop down is as good as anyone’s guess, and will leave you gambling with your future.
In other words, while you might be getting mixed messages from the media about the market BOOMING, or being on the verge of collapse, you should just disregard this and not let short-term market conditions influence your longer-term lifestyle decisions.
Source from Australian Bureau of Statistics (ABS) to 2017.
As you can see from this graph which has recorded Brisbane House Price growth since 1986, in the short term there were some drops in value or the market went sideways—but overall it has continued to increase over this 30-year period.
If you do want to maintain an idea on the market movements, I recommend checking out Herron Todd White’s Monthly Property Review.
The Brisbane property clock shows how the market is travelling compared to the rest of Australia.
This includes the National Property Clock, which details at what stage a property market is from the peak of the market to bottom of the market and everything in between.
As you can see, Brisbane is currently located in the rising market, but again, if you take the 10- or 20-year view these short-term movements shouldn’t affect your long-term plans.