When considering your options in the WA real estate market, it is important to look at the big picture!
If you have read anything lately about Perth’s dropping home values in February, you might be cringing and worrying about whether or not investments are safe and whether or not now is or is not the time to buy property in Perth, Cockburn, Kwinana, Rockingham, or other parts of Western Australia. But reading the articles about Perth’s poor home values masking the comeback can help you see that while February 2012’s numbers were down, there was actually a rise in value over the three months leading up to the end of February.
We have seen a lot of fluctuations in numerous areas and several other areas in Australia have had three-month drops instead of the three-month rise that Perth has seen. It is important to consider the bigger picture and to consider more than just a daily or monthly snapshot when making real estate purchasing or selling decisions.
Fluctuating Markets are Common
Fluctuations are a thing we see a lot of as mortgage brokers! Perth is definitely a growing area in terms of real estate investment potential. It may not happen overnight but investing here could be a wise decision. Whether investing in your own home with home improvements (we can help you with a home loan!) or whether you want to buy a rental property as a real estate investment, we can help you secure a Perth mortgage. Brokers can present many options to you with a variety of lenders to choose from and can give you some industry information to help you make the right decision. Any investment can be a gamble, regardless of what the indexes tell you so keep that in mind and know that there are no guarantees.
Look at the WA Real Estate Big Picture
Looking at the big picture is important when considering real estate property investments. There could be a variety of factors that impact a specific month so this needs to be kept in mind when making decisions.
Instead of looking only at a daily or monthly index, look at more than a small window of information. What do things look like over the following few months? How soon do you plan to buy or sell? What are the mortgage rates right now?
If things are in flux right now, it might be wise to hang tight but it also might be wise to act quickly. Do some reading and talk to some property-investing experts so you can make educated decisions based on the big picture. Here at Smartline Mortgage Brokers Rockingham, we are happy to help you look at all your options.