Real Estate Clock
by James Jones
I live in Melbourne and have invested in 3 properties,but lately i have a desire to develope 2-4 townhouses on the one block.
How do you work out when property is starting to cycle up ie property cycle at 7 o clock.
I have never used a property cycle clock. My decisions are made based on the current state of the real estate and finance markets.
In particular on the current sales and pricing of units in the price range you intend building. In my residential course you are taught how to go about getting this information as well as finding out if banks are lending for development.
You did not say if you intend keeping the new units as an investment or selling them into the market. This is important as in the former you are concerned with the rental market and not the sales.
I suggest that you determine these market conditions and then decide.
Hope this helps you.