Well, 30 years is a long time, even in the property world where investors are encouraged to buy with long term growth in mind.
Super long-range investors who bought up big in 1995 will have seen some stellar growth pretty much regardless of where they bought. But here on the north side several burbs have seen mega growth over that timeframe.
Warner, Eatons Hill and Narangba prices have increased more than 15 times what they were in 1995, reports realestate.com.au.
These suburbs have seen considerable transformation over that time with newer estates reshaping acreage and scrub into hubs for family living.
In fact suburbs in the Moreton Bay region, as well as other outer Brissie burbs dominate the list of highest price growth burbs in Australia over that period.
The data is perhaps not super helpful to predict price growth over the next 30 years but it does demonstrate the old saying that real estate gains are a question of “time in market” not “timing of the market”.
So if you’re waiting on the sidelines for the right time to buy, don’t over-emphasise external growth factors you can’t control.
Focus instead on your budget, your priorities and your finance options. When those factors line up, you may find it’s as good a time as any time buy – particularly if you’re buying with the long term in mind.
If you’re unsure, seek some independent financial advice to get yourself ready to buy and contact us for a chat about anything real estate.
