Dear A1, seasonal this time of year tends to result in an increase in housing as vendors take advantage of the spring when gardens etc at their best. also people who held off selling due to soft market are being bouyed by a resurgence of the First home buyer end of the market which helping the chain. While the increase is some 2%, remember this is predominately established homes. statistics have shown that construction is falling to significantly low levels so no new stock is coming on board.
As to a home to live, trying to pick the bottom or selling high to by at bottom becomes a bit futile when you consider that it costs some $30k to sell and then to repurchase in fees alone ($10k agent fees and $20K stamp duty). so a $400K will need to drop by 7.5% to just cover costs.
If you find the right property to live in and can afford, you are better off buying than waiting for the 'expected' fall which may not evenuate. If you are investing the dymanics are totally different and totally different conditions apply.
not a property bull at all but rather relaistic because in 20 years makes no difference whether you paid 10 or 20% more accept for the spreadsheet warriors who work the compounding effect but forget that there are few people with the disciple to actually follow the spreadsheet.
in retirement owning your own house outright gives you both financial and emotional security that rent can never erver give.
