Why the ‘Half-Centurian’ would be kicking themselves
Ask any 50 year old what the price of a Perth property was when they were 20 (1986), and few would be able to tell you.
Ask them if they can remember what the prices were when they hit 30yrs old (1996), and they may be able to pull that number up.
Ask them what they’d do differently having the benefit of hindsight around property values? Most would say ‘buy more property when they were 30.’
Buying property is not a ‘get-rich-quick’ scheme, and historical data shows significant returns to those who are able to position themselves with a property portfolio over the long term.
Below is a reflection of how property values has fared using Perth Median House prices when compared to Perth’s 2015 Median price of $540,000.
Clearly if you had purchased property 20 to 30 years ago you’d be very happy with the outcome.
And, if you had bought multiple properties, you’d be even happier.
Unfortunately, many people don’t realise just how easy and affordable, holding investment properties can be when implemented in a strategic way. So they miss the opportunity of owning more than one property and building significant wealth for themselves.
The current market factors of low inflation and low interest rates are presenting as buying opportunities to the Perth market. Whilst many will try to pick the bottom of the market before moving, astute investors are seeing the bigger long term picture and are continuing to buy regardless of speculation about which way prices might move. By undertaking a feasibility analysis, they are able to make informed strategic decisions rather than waiting for signs that the next horse has bolted. Provided they can accommodate the cash flow to hold additional assets (which are exceptionally low in this market) their eyes are on the long term buy-and-hold strategy
* These returns do not take into consideration costs of holding the property