Worried about house price changes? You aren’t alone. In a recent survey, more than 60% of Australians were worried about losing money on their property. A similar number of people, were concerned about owing more than their property was worth. Almost half of those surveyed said they regretted how much they’d paid for their property.
Why Australians are worried about house price changes
It’s no secret that Australian property prices have fallen. It’s a popular issue to talk about in the media. And most coverage has been quite negative about what’s in store for the Australian property market.
This is quite understandable. Buying property is the most expensive purchase most Australians are likely to make. So being worried about falls in property prices is therefore natural.
But just how worried should Australians be?
Are current property prices something Australians should worry about?
For people who’ve made recent property purchases, and are looking to sell, they may indeed make a loss. But for people who are planning to live in their property long term, or keep it as an investment, it’s another story.
There will always be short term changes in property prices, and these are not cause for concern. Many experts see current house prices changes as simply a correction to previous unsustainable increases in property prices. After this correction period, prices are likely to once again resume rising.
Thinking of buying while prices are slow?
Are you considering making a long term purchase? You might be thinking about buying now, while prices are slow.
Bee Finance Savvy is here to help buyers navigate the complex world of lending, and find the home loan that’s right for them.
If you’d like an up front, no obligation consultation, why not speak to our savvy broker Desiree. Desiree is here to answer all your questions, and help you on the way to achieving your property goals.
If you’d like to hear from just some of our satisfied customers, take a look at our reviews on WOMO https://www.wordofmouth.com.au/reviews/bee-finance-savvy-miranda