OPINION: I’ve been an investor for more than 30 years now and house prices are something I’ve never been interested in, or paid much attention to.
I’ve never thought “should I buy now?” because I just read a headline to say that prices in my area are soaring.
So many people ask me: “What do you think the market is going to do?”
My answer for the last 30 years has been fairly consistent: I don’t know. I don’t care. Hopefully prices will drop. Why does it concern you? If you did know what was going to happen, what would you do and why?
The idea that you can predict what house prices will do at any point in the “cycle” is one of the myths that catches property investors out.
Here are a few others.
Myth Number One.
Generally, investors think that the big cities such as Auckland, Wellington, Hamilton and Christchurch will be better to invest in because they falsely believe that...
New article by Graeme Fowler below team.
As always, well worth the read.
You’ll recognise many of the alignments in messages in this to what we constantly bombard you with, particularly ‘if it makes sense now, buy it now’, and his love and trust for the media and commentators.
The Absolute Absurdity of Paying any attention to House Prices or what’s in the news (June 2020).
Here are a few headlines from various news articles, most of them over the past year or two.
1. Rotorua house prices up more than 25%
2. Rotorua - House sellers cash in, making median $200k as capital gains reach record
3. Tight Hamilton housing market pushes property values up
4. Hamilton’s house prices keep rocketing up
5. Fierce competition for Hamilton homes means prices likely to rise
6. Asking prices for Waikato homes increases 74% in five years
7. Waikato’s median house price climbs $60,000 in a year
8. Tauranga out-ranks Auckland as NZ’s most...
This is a unique opportunity to learn from the best! Come and join Phil Thompson from AssetLab as he has a no holds barred conversation with powerhouse property investors and game changers Greame Fowler and Katrina Lukies.
Disclaimer: Nothing is this article is meant to constitute financial advice of any kind, and is the opinion of the author only. Seek professional advice before making any financial decision.
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