The economic and property environment is still cautious
The end of 2018 announced some restrictions being lifted as per my previous newsletter but, even with those restrictions lifted, the overall position for 2019, I believe, would be cautious.
Therefore, we expect a very modest growth in property values, if any, as purchasers would be a bit more selective with the constraint on their purchasing power due to affordability and the banks still being a bit more cautious at this point.I believe this is a much better market to purchase a property than a hot market where everything is going to auction.
Remember, property is a long-term investment and property cycles will always present up, flat and down trends. It is much better to be able to make a conditional offer and do your due diligence rather than present an unconditional offer.