WENDELL HUSSEY | Cadet | Contact
In some more welcome news for the nation’s property investors, prices in Sydney and Melbourne are set to momentarily drop over the next few months or so.
This comes as projections from analysts shows a 5-10% drop on the horizon for the two biggest cities, as interest rates continue to bite like a forged document Pitty that’s been harshly raised.
While prices are set to jump significantly in places like Brisbane and Perth, Sydney and Melbourne are supposedly forecast for a momentary dip, as first home buyers who’ve mortgaged their internal organs to get into the housing market feel the brunt of the mortgage cliff, or their repayments doubling in 2 years.
Thankfully, those coming off the mortgage cliff and now unable to service their mortgage repayments are able to handball their property to asset reach investors for a slightly lower price than expected.
Speaking to one asset and cash rich investor from Sydney’s property belt of the Eastern Suburbs, it’s believed the short dip before interest rates get cut has come at the perfect time.
“As their fingers finally give way, we are ready to catch them,” said Graham Ainsley (69) from Bronte.
“For a reduced price, that will shoot back up when the RBA finally makes the call to stop punishing poor people for international and corporate influences on the big scary thing called inflation.”
“Sucks for them, but they can re-group and try get back into the market in a few years.”
“Meanwhile, I get to use my ‘business acumen’ and government subsidised property portfolio to acquire another asset that will double in worth over the next decade.”
