by
25. November 2011 07:57
Wise words from one of the world’s most successful investors, Warren Buffett: “Be fearful when others are greedy. Be greedy when others are fearful.”
The past several months have seen the real estate market in a holding pattern of uncertainty. What people need to remember is that property remains an excellent asset class for long term investment and definitely offers more stability than the volatile share market.
Once confidence returns, Perth real estate will be in good shape. Unemployment remains relatively low and rents are very strong.Interest rates have just come down and given global events it just may be that we see a further trend down. Certainly the banks this so with three year fixed rates now available around 5.8%
As Buffett also says, “If you wait for the robins, spring will be over.” In short, we are experiencing great buying opportunities. Take a long term view and purchase quality property in blue-ribbon areas or markets that show great prospects for capital growth.