Home loans: Timing is 'crucial' when buying a property
Article by Mozo
Timing is almost as important as location when it comes to buying a property, home loans customers may be interested to read.
According to an article by News Limited, which draws on the opinions of finance experts, buying at a time of oversupply and undersupply could be beneficial to different types of house hunter, including those with low interest home loans.
A good time to purchase a house for investors is when demand outstrips supply, the publication asserted.
This is because there will be a high number of potential tenants, which means landlords can up their rents.
Meanwhile, when there is too much property on the market – potentially caused by a drop in confidence or a boost in construction – prices begin to fall.
"[This] is good news for buyers," the news provider posited.
"With lots of properties to choose from and very few buyers to compete with, you now have the highest chance of snapping up a bargain."
This information may be useful when combined with recent figures from the Australian Property Monitors.
According to the firm’s latest Home Price Guide, house values rose by 3.3 per cent in June.
This article is brought to you by Mozo – Helping you compare home loans