Scott's Weekly Column

TURN OFF THE LIGHTS!!!

I wonder how many people reading this column are like me and are sick of reading and hearing different so called “experts” telling us over the past two weeks how bad things are going to get in real estate and how scared we should all be for the future. If you own real estate in a capital city and you believe all these negative reports it will be a case of “last one out, turn off the lights”!

These experts have been predicting the end of the world in the Australian real estate market with price drops of 30-40% and a massive correction across the capital cities and 10 years of really hard times.

Now I`ve got your attention I`ll let you in on a little secret.

The above comments are extracts from my column of 26th July 2012 in response to some trumped up experts’ comments on current affairs shows and morning TV shows. What followed was in fact a small correction followed by a couple of years of stability before a massive upturn in capital city prices from 2014 through to 2017.

Now we have new so called “experts” with dubious credentials at best making the same sensational claims that were made 2012.

The fact is real estate market is following the same pattern that it has for many decades, after 2-3 years of significant price rises there is a period of correction (normally around 5-10%) that occurs over a one to two-year period followed by a couple of years of flat prices or small gains until the next upturn.  

I can only wonder how we would all feel if we weren`t in the “age of information overload” and there were no newspapers, TV shows, tweeters, bloggers, and other blusterers telling us how scared we should all feel! 

My prediction is that the Coffs Coasts best days are still ahead and with the amount of government and private projects in the pipeline the next 5-10 years could be the best we`ve ever seen!!

Remember we are living in the best part of the best state of the best country in the world and 95% of the world’s population would swap lifestyles with us today!

Have a great weekend !