2019 – The Year That Was | 2020 – The Year That Can Be
Australia’s housing market rebound continued over the last month, led by strong price growth in our two big capital cities, Melbourne and Sydney.
The year started with significant negative sentiment including fears about the results of the Royal Commission into Banking and an upcoming federal election, as well as fears about overseas economic problems.
In the first half of the year the Sydney and Melbourne property markets continued their slump, but since bottoming out in June, the house prices have recovered strongly thanks to interest-rate drops, and the banks loosening their lending criteria.
National dwelling values marked their fifth consecutive month of growth in November, taking dwelling values 3.8% higher over the quarter.
Combined capital city dwelling values were 4.6% higher over the November quarter while combined regional market values only rose by 1.1%.
Remember, the data below is a broad measure of the city in its entirety. Within some cities we are seeing suburb data show better, and in some cases worse figures than what is suggested below. In particular, the Brisbane and Adelaide suburbs we are active in are showing much higher returns than the city median.
So how can you start or grow your portfolio in 2020? Here are some ideas to think about over the Christmas break:
Assess your finances
When was the last time you took check of your financial position? Most home-owners, especially Sydney siders have large amounts of unused equity sitting in their homes. Savvy investors are looking at their available equity and using it to leverage into a high performing cash flow positive portfolio.
Mindset
The most successful property investors I know have a winning mindset:
Patience is a virtue
Stay focused on your desired outcome
Don’t become emotional
Make education a priority
Take action
Learn to ignore detractors
Leverage off a professional who is a successful investor
Your financial future
Be clear on what your financial future looks like and take a disciplined and measured approach to improving it. Ask yourself these questions:
If I do nothing what will my retirement look like?
Am I happy working the 9-5 until retirement?
Can I help set my children up financially?
Am I doing everything in my power to live a comfortable life?
Get Started
It’s easier than you think, and with professional help and guidance you too can take the steps to living a future life of freedom and choice.
On that note I would like to wish you a Merry Christmas and prosperous New Year. I look forward to helping many of you in 2020. To my clients who I had the privilege of working with this year, thank you and I look forward to guiding you further on your property investing journey.
If you are ready to take action book in a free call where I can help put you on the right path.
Ben Plohl – Founder & Director
BFP Property
ben@refinedev1.online | +61 434 561 378
www.bfpproperty.com
**All information published has been collated and prepared in good faith. No representation is given or implied as to its accuracy or interpretation. Please ensure you rely on your own research before making any investment decisions**