Softening markets have prompted various "doom and gloom" reports, but one buyer’s agent believes there’s a big opportunity for property investors in the current climate.
As has been widely reported, key markets in Australia - like Sydney and Melbourne - are in the midst of a down cycle. Prices are softening, and the rental market in high-density areas is getting tougher for landlords.
However, the air of negativity also creates “exciting” opportunities for investors, according to Ben Handler, CEO of the Buyer’s Agent Institute.
“The media can have a very, very profound, and in this case, negative impact on the market,” Mr Handler said to Smart Property Investment.
“What that means is, the media comes out and … it seems like the world’s ending to a lot of people.
“It’s creating a lot of fear in people, and a lot of people are forgetting the fundamentals [and] that interest rates are the lowest they’ve ever been in the history of this country.”
As a result, Mr Handler is seeing people resisting the urge to buy property - which places savvy investors in the driver's seat to capitalise.
“It’s an exciting time right now for people who really love investing in property for themselves and they’ve got a wealth of knowledge,” he said.
“The opportunity is: what a great time to buy now while everyone’s running around so fearful, so there’s better buying opportunity now.”
Mr Handler explained that the last few years were not favourable for buyers, and only recently has the buying environment changed.
“It’s a very exciting time to be buying property now, because a year or two years ago, it was very difficult,” he said.
“It was a seller’s market, highly competitive, and everyone wanted to buy and there was a lot of urgency.”