One of the most common lead up questions I usually get asked at a consultation meeting is this:
“Can you find me an undervalued property?”
That’s the million dollar question isn’t it, because who doesn’t want to buy a property today at something like 2009 prices?
But the cold hard truth is this – chances are, prices will never fall back to those lows again.
If you are looking for proof – it is none more obvious than from the property cycle, where it’s clear to see that each low will start at a higher point from the previous one.
Which is why unless something catastrophic happens (while the Covid-19 situation looks to be one, I’m still a believer that the market wouldn’t completely crash) this really isn’t something you should count on.
So here’s what I usually tell my clients.
It’s both yes and no.
Yes, in that...