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Property Prices Up, Up and Far Away From FHB in 2014

Property Prices Up, Up and Far Away From FHB in 2014: May 30, 2014

Confidence in the property industry has reached record levels, increasing eight points since the same time last year to a new high of 140 points.
According to the Property Council/ANZ Property Industry Confidence Index, every Australian market is in positive territory, with capital values expected to rise and construction activity set to increase.
Nicola Trotman
Wednesday, 15 January 2014

Yep, that's the news that I read and incredibly, just when you thought they couldn't go up again, property prices are up, up and away. You thought you were making some real progress with that onerous deposit and setting your sights on a property that you could live with for a few years, pow…the property prices are on the charge again and the dream gets shelved for another year or two or three.

You know, this could go on forever. This time last year I sent out a similar warning about the insidiously escalating price of an Australian dwelling…did you do anything about it then??? Oh, no! Well, look at all the capital growth you’ll be missing out on now. Look at the relatively cheaper prices you will miss out on had you bought last year or the year before. Look at your state of mind and the analysis paralysis that has cemented you into a woeful lack of action and led you to where you are.

Come on, don’t give up! Rally and use your smarts. What do I mean by that? Well, at the risk of sounding like a well worn record, look at options such as co-buying with a buddy, family member or get onto the Home Addressed website and find a willing co-buyer. This strategy is really quite fantastic for catapulting you into the market, dividing the burden of costs and repayments and allows you to capitalise on market forces ie capital growth.

This can be a short term strategy and even if you lock yourself into it for a minimum of two years, it still means that you will have gone a significant way into gathering momentum for a sizeable deposit. If you stay for the long haul then so many more options open up to you.

But what if there’s a falling out, circumstances change, friends and family fallout, people marry, travel, die…Yes, it is wise to ask these very pertinent questions and ponder seriously on these potential deal breakers, however, these scenarios can be circumvented and put to rest if you have a co-buyers contract. This piece of paper will save you big headaches and ill feelings should anything go wrong. It is imperative that you have this agreement in place prior to contemplating this strategy.

So what are you waiting for? Truly, just do it! Create a profile on the home addressed co-ownership section, scout around, look, probe, ask questions and send Opportunity Knocks to a potential buyer or investor. Get onto our Facebook page: www.facebook.com/home.addressed.1 and put a post out there to find other like-minded individuals who want to get out of the rent pit and into their own home.

I'll be checking on your progress so get it happening!


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