If I can live with a negative carry on my income for a while, or even break even, I will still be in a good position in the long run, because prices are not going to be cheaper in a year or two, and demand will be even stronger.
In terms of borrowing, my advice would be to stick with variable rate mortgages for the present. Anticipate a decline in interest rates and the eventual emergence of more competitive fixed-rate options.
By remaining agile in your financing approach, you position yourself to seize the optimal mortgage terms when they become available.
Investing in the property market now can yield rewards, but its essential to embrace a long-term perspective and make informed decisions that will withstand the trials of short-term market fluctuations.
Tim Murphy is founder and chairman of real estate investment firm IP Global
