Any time is a good time to buy, regardless of what house prices are doing, Yellow Brick Road’s chief executive Mark Bouris has claimed.
Speaking to Real Estate Business, Mr Bouris said property buyers should never factor real estate prices into their purchasing decision, but rather, their own financial circumstances.
“Obviously there is a lot of talk at the moment that properties are overvalued. Economists are currently saying that properties are overpriced by as much as 25 per cent. I think that is about right,” he said.
“However the reality is, this really should have little bearing on a home buyer. If they can afford the property, then they should buy it,” he said.
“Regardless of what the market is doing, it is always a good time to buy property, provided you can afford it.”