Your Empire Property Predictions for 2023
You seriously won't believe my predictions for 2023.
However, after I give you mine, I'm going to look at the predictions of one of the most respected property minds in the country.
My 2023 predictions first.
The property market is either going to:
Rise
Fall
Stay the same
Incredible insight, right?
However... here's the catch...
Over the LONG TERM, I genuinely believe that Blue Chip property will continue to rise, just as it has for many decades.
Given this is what I research, study and live consistently, the question you probably should be asking yourself is:
"Why do so many people I know think they can predict the property market in the short term, if experts and economists that dedicate their careers to it, do not?
Sure, I can give you insight into figures, but at the end of the day, it's just my opinion.
When I want a more specific look at the economics of things, I go to real experts, like Louis Christopher and the team from SQM Research.
Louis was a regular guest, not only on my show on Sky News Business, but also a regular in many other places in the media, like Sunrise on Channel 7.
So the bottom line is, he's an expert. He's trusted. He's independent (without a vested interest in his research and commentary).
Every year, Louis Christopher and SQM Research release their Boom and Bust Report and this year made for some extremely interesting reading.
However, before I get to the details, the report is available for under $60 for anyone to purchase and download. Click here or the image below (I don't get any referral or kickback).
Here's the ridiculous irony, though.
I can share with you why I think this 129-page report is excellent value at under $60, though people are reading this, who in the coming year, will spend hundreds of thousands (if not millions of dollars) on property when they won't even spend $60 to do the most basic of research.
Let me say that again.
They're not willing to pay $60 for the report, but they are happy to part with millions of dollars for the property.
And yet people continue to get their economic guidance from their next door neighbour. I just don't get it.
Anyway...
Let's get back to the report.
Above are the four main scenarios that the report suggests are plausible and likely in 2023. These "scenarios" are primarily based on:
Interest rates
Inflation
Unemployment
What I'm seeing are multiple scenarios where the market starts to recover. Already we have seen a significant slowing of the declines that began in April, and eventually (based on historical data), those small declines flatten out and turn into gains once again.
Remember what happened at the start of COVID?
Every man and their dog was thinking the property market was going to fall and some media outlets were talking up to 50% drops (who doesn't love a bold headline). Instead, markets around the country went crazy, and we saw gains of well over 20% in most capitals.
Even taking into account the recent market corrections, Blue Chip property investors are still sitting on gains well over the double-digit mark if they held onto the property from before the start of the pandemic.
Like I keep saying... "Buy and Hold".
Yes, there is a scenario where interest rates continue to rise, unemployment skyrockets, and inflation keeps rising.
However, once again, I don't pay much attention to it.
If today you purchased an investment property in a Blue Chip location (say Bondi Beach in Sydney) and tomorrow you fell into a deep coma for 20 or 30 years, do you think that property would have increased or decreased in value when you woke up?
Most people pay way too much attention to property prices in the short term and take their eyes off the value of property over many decades.
Borrowing capacity is going to continue to get tighter as rates rise. Buy when you can afford it and have the cash buffer to sustain the portfolio no matter what happens.
To ready Chris’s Bio click on the link below.
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