This question will linger as long as the coronavirus does – and longer – because timing the market is one of the trickiest things to do even in a dull market, let alone when newspaper headlines are screaming panic and crisis.
This is why ‘time in market’ becomes more important than ‘timing the market’. People will always need houses to live in and owners will always need to sell. Australia’s major residential property markets – including Brissie – have performed very well over the long term.
Veteran property analyst Michael Matusik (a former Brissie local) had this to say in his weekly update.
“Things that really matter when it comes to the housing market include demographics, work trends, settlement patterns, finance, taxation, regulations, compliance, affordability, and importantly supply and demand,” he wrote.
“None of these fundamentals are likely to be substantially altered by the current virus and the ensuing fear; subsequent machinations and changing confidence.… in my opinion, residential property is unlikely to be affected anywhere near as much as other property classes.
“People will always need somewhere to live, and homes are the true ‘safe haven’ in the current environment.”
Brissie’s property market fundamentals started the year on a solid footing with continued signs of strengthening markets for both houses and units, according to the most recent CoreLogic market wrap reported in Property Update.
Whether you buy or sell now will depend on your circumstances, but if you are ready to dive in, the market is here and will still be here when COVID-19 passes.
Making your move now? View our current listings for sale or talk to us about selling.
