Despite the doom and gloom in the media about the state of the property market, “Now” is always the right time to invest in property by selecting the right market.

While that might sound like an obvious thing for a professional to say, when you consider that successful property investing is typically a 20 to 30 year project, then monthly market conditions are just incidental.

“Successful property investing is a long term game, and you need to approach it like that,” according to PEB Group Director, Rick Collova.

“Most property investors in Australia are doing it to create long term wealth and fund their retirement.”

“From that perspective, there are more important things to consider than monthly or short term market fluctuations.”

“Over a 20 to 30 year period prices, interest rates and vacancy rates will inevitably rise and fall. While you should plan for those, there are two matters or goals that need to be considered.”

“First, always focus on buying the right property in the right market that fits your situation. Do your research and if cash flow is your priority, only purchase properties that are going to give you a good cash flow and capital growth.”

‘Secondly, “HOLD the property”. If history has taught us anything it is to hold onto your property for the long-term. The longer you hold the property the longer you have the magic of capital growth to work, before you retire.”

“That is the longer you have held on to it, the more wealth it will have created for you.”

“So obviously if you wait and put off buying an investment property, you are missing out on wealth generation.”

Right now prices in Perth are low, so it is a good time to buy, a good time to strike a deal.”

“Perth has a history of strong population growth and a buoyant economy so the oversupply of rental properties will inevitably dry up.”

It also has a great track record when it comes to property value growth as shown in this report by REIWA.

However, Mr Collova cautioned against just buying any property.

“As we keep saying, you need to understand your investment goals, where you are on your property journey and speak to a professional to get the right advice and set up the proper investment structure for you.”

“While it’s only natural to worry about job security or reduced income in tough times, a proper investment structure will see you through if tough times arise . ”

“Insecurities, whether they are real or not, really change people’s mood and confidence. Their emotions can affect their thinking, and this certainly isn’t helped by the media.”

“But people need to rise above that and always ask themselves: What are my long term wealth goals? How do I start achieving those today?”

One final thing to consider is this: Ask yourself what was a typical property in West Perth or Melville worth 20 or 30 years ago? Then look at what they are worth now.

Or use the REIWA free suburb profile tool to see the growth in your area for yourself .

You’ll probably be astounded. There can be no clearer demonstration of why you need to start your property investment journey sooner rather than later.

To help you choose a property that suits your goals and situation, why not give us a call

*This article is for general information purposes only. It is not intended as financial or investment advice and should not be construed or relied on as such. Before making any commitment of a financial nature you should seek advice from a qualified and registered financial or investment adviser.