Are we on the cusp of a Housing Boom?
With Interest Rates being the lowest they have every been and the growth in the median house prices economists are prediction strong growth in the months to come.
If you have existing equity in your family home this may be the time to look a buying a rental investment. Low interest rates, shortage of rental properties and the strong growth in the housing market is a sure win. By buying a rental property you are gaining “good” debt and creating an investment strategy for your future.
The housing market has shown remarkable resilience since the end of the Level 4 lockdown, with house prices rising 4.6% over the last three months to hit a record high.
The price growth has been even more impressive because it occurred over winter, when the market is normally more subdued, and against a backdrop of considerable economic uncertainty.
So, is it a good time to buy?
Yes! If you have not been drastically affected by covid and your household income and budget have remained level throughout both lockdowns I believe it’s a good time to look at investing in the housing market, especially with record low interest rates