Melting Moments

Nov 24th, 2008

I guess that we are all very interested spectators in the current global financial situation. Let’s face it- the media is filled with bad news from America almost constantly. And yet the feeling amongst buyers locally is much more upbeat. Almost everyone I speak to at open houses or on the phone is saying that they believe that it is a very good time to buy. The marketplace just believes that it is the right time to buy property in Port Macquarie.
I am quite happy to admit that I know very little about share markets and all the other financial ‘products’ that people can put their money into, in the hope of getting a return and increasing their wealth. I wouldn’t know a CDS from an IMA. Michelle and I believe very strongly in property. There are times when returns aren’t great and dealing with maintenance niggles can be annoying, but I like that fact that you can touch and feel it and that real estate has a proven track record in Australia over the centuries. If you buy a good property in a good location and control the process yourself, it is very hard to go wrong.
So why are buyers so upbeat about Port Macquarie property? I believe the answer is very simple. Firstly, our prices have been stable for 5 years whilst other property markets have risen which means the timing is about right for our property. The second reason relates to the fundamental issue of supply and demand. Port Macquarie has a growing population and not enough houses bring built.
So if you are worried that a financial meltdown on the other side of the world will affect your future, it may be time to look closer to home.