27 April 2019

Doom and gloom overhyped

By Tim McKibbin, REINSW CEO

Many would have you believe the property market is in dire straits. Yes, the market has eased, but it's disappointing to see misinformation and fear mongering.

The fact is the property pendulum swings back and forth over time. Sometimes the market is hot and prices grow at a staggering rate. At other times, things slow. There's no need to panic – it's just the market behaving normally.

Periods of significant capital growth, as we've experienced in recent years, are always followed by a period of no growth or falling prices. That's just how the market works. Unlike shares, property is a long-term investment.

For those talking it down, I invite them to look at market growth over the last five and 10 years. Remember you only make or lose money when you sell.