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Ben Kingsley Blog post by Ben Kingsley

Australian Housing Market Update July 2023

Are you feeling overwhelmed by all the challenges we’re currently facing? We get it – interest rates, mortgage repayments, the fixed rate cliff, and the rising costs of living can be tough to handle. Not to mention the struggles with property building groups and the rental crisis. It’s a lot to take in!

But wait, before you get too caught up in the negative news cycle, let’s talk about the “Recency Bias Effect” – an interesting psychological concept that might be influencing your decisions without you even realizing it!

The Recency Bias Effect: It’s a cognitive bias that makes us think future events will be like recent experiences. We tend to give more weight to recent information, impacting our decision-making process.

Now, let’s apply this to the current property market. Many people are hesitant to make moves based on recent news – sellers are holding back, hoping for better results, while buyers are waiting for deals or struggling with limited options. But here’s the twist – despite the negative news, property prices have been rising since February, even with increasing interest rates! That’s not what most experts predicted.

Speaking of experts, they are now speculating about one or two more interest rate increases. The big question is, how will this impact property prices in the short term? Curious to find out? Check out this mini housing market outlook update from Ben, where he delves into the potential outcomes and reveals some surprising insights. Don’t let the recency bias effect hold you back from making informed decisions about the property market. Keep calm, stay informed and stay ahead!

A Personal Message from Ben:

Food for Thought:
If you have been following my analysis and commentary of the macro property market over time, you will know that yes, I do pay close attention to it, but I pay even closer attention to the ‘markets within markets’. Meaning that as a professional property investor, I’m looking for clear signs of imbalance between demand and supply, as this increases the likelihood of short-term capital growth. And given I’ve been doing this for over 25 years, even in challenging markets, there are always pockets of opportunity in which you can buy and then let time do the heavy lifting for you.

When is the best time to ACT:
What I hope you took away from this update is that when thinking short term, you can potentially overthink the market. But if you line up the forces that put the market at risk versus the forces putting the market in your favor, and you lift your eyes towards the medium to longer term, the balance of probability of a profitable result, in my opinion, falls in the favor of those who act when they have done their numbers and can afford to buy now and hold for the longer term. (And it also helps when others are fearful, as you don’t have ‘everyone’ to compete against).

Further Knowledge Building:
If you are considering or are in a position to invest in property, I’d highly recommend you continue to build your knowledge and understanding of the market by watching a Property Investment Masterclass that Bryce Holdaway and I have made available. Combined, there is over 50 years of property investment experience. Our goal is to simplify the information down to key takeaways and proven processes that we know work to help you build a property portfolio that can help you retire on $2,000 a week.

You can learn more about the Masterclass here >

Feel free to forward on this market update to anyone who you think can benefit from the information I share.

Professional And Qualified Assistance:
And of course, if you would are ready to act now but isn’t quite sure where or how to get started, we’d love to help! Our award-winning team offers a free and no-obligation consultation and is dedicated to providing tailored solutions to each of our clients’ unique circumstances.

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Thanks for reading till the end.

Until we next connect, remember knowledge is empowering, but only if you act on it.

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