Rich Harvey
speaker
1,863 appearances
17 recordings
1 series
first heard Jan 2022
last heard Oct 2022
Rich Harvey’s voice in public audio — every appearance, attributed to the second.
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Appearances
The problem with that approach is that, again, you're going to miss the market.
You'll miss the opportunity.
It's not to say you have to buy now, but the conditions for buying have absolutely swung back in the buyer's favor.
There's so much less competition out there.
Auction clearance rates have declined.
We're in the 50% now.
Vendors are far more negotiable.
There are some vendors that are holding back, but what I'm saying is you need to be careful with your property selection and what you offer, but there is some great opportunities there.
What I think is going to happen, Craig, is that once prices stabilise and they find a new what I call plateau or sort of a trough where they're not going to decline anymore, that's not going to get picked up in the media until three to five months down the track.
So as I said, markets overshoot or undershoot.
So the expectations are not always accurately reported in the media as to what's happening on the ground.
So I'm saying the next six months,
are going to give some of the best buying opportunities that we've seen since the beginning when COVID hit.
When that three-month period, when COVID hit March 2020, that was a brilliant time to buy.
Similarly, back in the GFC in 2008, when the market thought it was going to crap itself, I bought three properties that year because there was just so much negativity and it was great to buy.
That sort of same negative sentiment is very pervasive right now.
So to answer your question, how do you approach the market?
The best way to approach the market is with an open mind, a discerning mind, and the ability to do really thorough property research.
So the market's constantly moving, constantly adjusting, and it's going to reach a plateau a lot sooner than most people think.
But the trick is to get ahead of the herd and not adopt that typical herd mentality.
Showing 681–700 of 1,863 · page 35 of 94
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