For me Timing is the most essential element to nail in order to to fast track wealth creation. The vast majority of people who I see who discount the importance of time are professionals who business model requires people to be buying all the time so THEY have ongoing income We bought our first house an inexperience newbies at the peak of the boom towards the end of the 80’s . It went sideways for the next seven years before we needed to move . We bought out PPOR in the last half of 2013 just as the Sydney boom was taking off . Someone bought the house opposite is in late 2017 at the peak of the market and paid 120 % more than we paid and then put a bulldozer through it . That came down to experience. With the tightening of borrowing capacity I believe has made it more important to get your timing correct and in order to maintain that momentum , selling , taking profit ( paying tax ) and moving to the next area. One thing to be aware of is how cycles work , starting in the nice areas and then moving out . Typically Sydney’s central nice area move up fairly consistently and the the outer areas move later in the cycle , but by similar percentages . Those who followed the last cycle in Sydney will be aware of the large rapid gains in Mt Druitt . People don’t talk much about the eastern suburbs in Sydney due to the price point . As a encampment my niece bought a unit in Coogee in the mid 2000’s . Before Mt Druitt move , that unit had gone up by around 50 % . By the end of the cycle , percentage wise they had gone up by comparable % . Those who bought in Mt Druitt made similar percentage profit in a shorter time frame than someone who bought in Coogee . what’s happening now ? Well , you’d need to have been hiding under a rock to know that nice central areas in Brisbane have moved up in the last couple of years . So do you buy there ? Personally I wouldn’t . If you know that area the way that we know Sydney’s north shore , and know intimately what is happening and can pick a great deal , have deep pockets and wouldn’t EVER EVER think of ever buying in a Mt Druitt , Logan , Goodna or ipswich , fine Personally, I’d be select a few places to research based on reading everything about Brisbane on the forum , I’d be getting in the phone and talking to agents to find out what is happening at the moment and trying to find those places that appear to be close to taking off . I’m not doing that at the moment . We bought around four years ago and in retrospect ( in term of perfect timing too early ) but when your buying a few properties , it’s hard to do that when the market is taking off . Also the changes in finance had an impact on slowing the market for 2-3 years . Cliff
