It’s no secret that the property market is off the charts right now. And the big question that investors are asking is: should I sell now and cash in on the boom conditions?
With house prices and demand surging in a low-supply market, it’s very tempting for owners to put their investment properties up for sale. But now is the perfect time to buy – not sell.
There’s a simple reason why. If the aim is to set yourself up for retirement, then it’s a great opportunity to build your property portfolio in this market.
Interest rates are at record lows, so it’s cheap to borrow money. And with prices continuing to rise over the next two to three years – as banks and economists have predicted – then the gains in capital growth will be fairly significant. Having two or three investment properties experiencing this kind of growth can help to secure your financial future.
For those people who don’t own investment property, now is a great time to think about it. Homeowners benefiting from rising property values could use some of the equity they’ve accumulated in their home as a deposit to buy their first investment – and start earning extra income.