Property prices are falling in some markets, so why are so many first home buyers still sitting on the sidelines? Waiting for a better price might seem like the obvious move, but falling prices don’t necessarily mean better affordability when interest rates are rising and borrowing capacity is shrinking.
In this episode of Home Buyer Academy, Veronica and Meighan unpack what’s really keeping buyers from moving forward, from changing borrowing power and rising rents to negative equity concerns and the temptation to wait for the market bottom.
They also look at how buyers can approach a falling market more strategically, including reassessing their borrowing capacity, setting a comfortable budget, focusing on quality property, negotiating from a stronger position and thinking long term.
If you’re financially close to buying but wondering whether you should wait for prices to fall further, this episode will help you look beyond the headline price and consider what actually makes a property affordable.
Episode Highlights
00:00 - Why Waiting for Property Prices to Fall Can Backfire
01:33 - Are Falling Property Prices Really Good News?
04:49 - What Makes It a Buyer's Market?
08:38 - Why Your Home Buying Budget May Have Shrunk
10:25 - How Interest Rates Reduce Your Borrowing Power
14:36 - What Happens When Your Property Loses Value?
20:57 - The Three Hidden Costs of Waiting to Buy
25:01 - Property Supply and the Risks of Buying Off the Plan
29:43 - What First Home Buyers Should Check Before Buying
34:43 - How to Decide Whether to Buy or Keep Waiting
Course Details:
- THE First Home Buyer Course is our Step-By-Step, No BS Guide to Every Stage of The Home Buying Process – It’s the next best thing to having your own buyer’s agent. With our expert guidance, you’ll know what to do at every step along the way. Become a home owner faster and easier. Click here: https://homebuyeracademy.com.au/YFHBG
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