by Sanjeev Sah | Dec 13, 2022 | Market Updates

Here are three reasons why now is a great time to be in the market for an investment property.

First, CoreLogic data for October shows property values across the combined capital cities are down 6.5% from their peak, increasing the chance of snapping up a bargain.

Second, new Domain data shows many properties are staying on the market for longer than they did in October 2021, giving you more breathing space to make decisions (see image).

Third, with properties taking longer to sell, vendor discounting is on the rise – with Corelogic data finding sellers reduced their asking prices by an average of 4.3% in the three months to October.

Bear in mind that while there are bargains to be had across the market, you need to do your research to make sure you don’t buy a lemon.