Is it too late to enter into the Melbourne Property Market…

How many times have people spoken about the property bubble that is going to pop? However, property prices have continued to rise each year. The only time it went down in the past 10 years was during the global crises. Even then people purchasing properties thought they were paying too much.  Now those properties have increased like no one ever expected.

I met with my mother in-law for a coffee and she expressed her concern for when her Grandchildren needed to buy property in 20-30 years’ time. She wish that she had a crystal ball tell her how much property prices would have risen, for she has purchased her family home in the 1980’s for $200,000. She went on to joke about how she should have bought streets of houses for her future family so they would never have to struggle.

So the ultimate answer to whether it’s too late to enter into the market is, no. Despite paying what seems high right now, paying 2016 house prices isn’t bad as that year will come and go. Buying a house is a long term commitment and your purchase price will be less than its worth in a matter of years. Investors who may have felt they paid top dollar in 2012, now don’t have that opinion in 2015. The trick to property is simply getting started.