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Sombre news for property investors in this week’s Westpac Economic Update

This week’s Westpac Economic Update has some sombre news for property investors.

It discusses the market events including NAB business survey, Westpac Consumer Sentiment Index & Spain’s bank bailout, & looking ahead to the RBA minutes.

Confidence has not picked up despite 0.75% interest rate drop over the last few months suggesting that interest rates are likely to fall further



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Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit Metropole.com.au


'Sombre news for property investors in this week’s Westpac Economic Update' have 5 comments

  1. Avatar for Property Update

    June 17, 2012 @ 9:31 am Mike

    Next week will be different again.
    He says even with Spain’s bailout last week, there has not been much confidence, would you expect there to be confidence in one week, no, Spains not just gonna go running and start spending etc in one week, it will take time, so just a bit more garbage to add to the report and a bit more garbage that brings people’s confidence down.
    Your buying in the Australian market not the world and your buying in one suburb not the whole of australia.
    Think about it, When things around the world have gone bad, has it actually affected you or your investments?
    Now is a good time to buy.
    When they talked about America going under what actually happened to you or your investments, mmm probably nothing, when they talked about 911 what happened to your investments, nothing.
    What happened to that big recession we were going to have, nothing.
    What happened to the double dipper, nothing because it is all just media making up bad sounding stories to get there news paper sold, how else are they going to make money.
    Buying now is a good time before media works out not many people can be bothered buying there negative news papers, once less people buy there papers, they will start printing good news in there papers but the time they do this all the good property deals would have been sold.
    It doesn’t matter what day it is, there is still money to be made in the market place and while things are negative, it makes buying in today’s market very good.
    Personally I have made more money since 2008 to 2012 than I did between 2002 to 2007,
    How, well one reason is because I have been buying as much as I can in the last 4 years. I believe I will make just as much money in the coming months before more conference is back in the market place.
    Things will get better if you turn off your ears from listening to the negative talk.
    Be confident and move forwards.

    Reply

    • Avatar for Property Update

      June 17, 2012 @ 1:12 pm Michael Yardney

      Well said Mike
      I agree with your sentiments. I’m just writing my market commentary for this week, where I discuss what the market turmoil means for the Australian property markets

      Reply

  2. Avatar for Property Update

    June 17, 2012 @ 10:52 am steve

    well said mike

    Reply

  3. Avatar for Property Update

    June 17, 2012 @ 12:43 pm Jenny Perkins

    totally agree with u 110% Mike

    Reply

  4. Avatar for Property Update

    June 17, 2012 @ 4:39 pm vasilija wilson

    Thank you Maichael
    If I have money I will bay naw smoler property. I think this is the best time to go into investment for the future.
    I have to sale my property first that is not performing so well.
    I am hoping to sale my property and get into next one. Definitly I need your help Maichael
    I think we will get better soon in property market
    Thanks Machael

    Reply


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