Almost two and a half years later, the property market is still recovering from the effects of COVID-19. In addition, climbing costs of living coincide with increased property prices. For buyers making decisions in the current market, it is important to consider the potential for rising interest rates, and the relative returns over time.
Robert Hoadley, Managing Director of TCN offers industry thoughts and views: “The factors affecting the market are profound, but for some, there remain great opportunities. However, forward planning is vital to ensure profitability over the next 18-24 months. I believe we can expect inflation to keep rising for a while, and interest rates following suit, so now is the time to adjust your borrowing to reflect the likely shift that’s coming down the tracks. No one has a crystal ball, and business critical property decisions will still need to be made, but growth is likely to come from hard work and strong management skills, rather than the market. ”