PROPERTY PRICES LIKELY TO KEEP RISING

First home buyers may find life even tougher in 2015, with a survey of 37 economists and industry forecasting property prices to rise even further.

According to the survey by comparison website finder.com.au, 69 per cent of respondents believe property prices will continue to climb.

The survey also found that 14 per cent expect house prices to stabilise, while 17 per cent expect prices to fall next year.

A finder.com.au spokesperson said although most of the experts forecast an increase in property prices, they do not expect the higher costs to dramatically impact first home buyer numbers.

“Two in three are expecting the same level of first home buyers next year compared with this year, with only five expecting fewer first home buyers,” the spokesperson said.

Now is also a good time for first home buyers who are ready to enter the market, the spokesperson added.

“With the national median property prices across our capital cities hitting $545,000 in October – 8.9 per cent higher than the previous year – it’s a good time to jump into the property market if you are prepared,” they said.

“But there is no point rushing in [if] you’re not ready, because over stretching your budget could have serious consequences if interest rates rise next year.

(Seriously how does anyone keep up with the Media, one minute we are in for a massive downturn and the next we are in for higher prices !!)

Just remember what I have been saying, buy when you are ready, buy within your means, do your home work, dont listen to those that dont have real estate, have the deposit ready, have the finance ready, buy the one that feels right for you straight away to avoid going into competition.  Glad I am not a first home buyer but we are here to help direct you in anyway we can.

MAKE YOUR OWN DECISION AND GIVE IT A REAL GO !!