Charting Your Own Course: Escaping the Noise around House Prices
Let’s look at some recent news headlines and add some logic…
Six months ago Melbourne’s Age Newpaper titled an article “Melbourne house prices fall at fastest pace on record”
I fear the day when property is priced throughout the day like shares (see the price movement every minute), more information doesn't always lead to better long term results.
On the plus side, more frequent data = more interesting headlines. Context matters with data, at the time of this headline prices were up significantly on the last 4 years.
Median house prices in Melbourne
Sep 2022 = $1,028,452
Sep 2021 = $1,049,276
Sep 2020 = $875,980
Sep 2019 = $862,063
The price only matter when you enter and exit the market, another reason to know your plan and take measured risks.
Recently news.com.au titled an article “Disaster looming in Australian housing Market”
Is anyone else tired of the constant obsession with predicting house price movements?
First, it was all about trying to guess when the market would reach its peak. Now, it's all about predicting the bottom.
While the housing market is undoubtedly important, I've come to a realisation—I simply don't care too much about short-term fluctuations.
As a financial professional, I focus on the long term perspective. My clients who own property have a strategic approach and buffers in place, ensuring they are prepared for whatever the market throws at them.
Sure, I'll admit that I've fallen into the trap of checking my home's value on real estate websites. But then I remind myself, does it truly matter to me? Most of the time, the answer is no. I can't control the market, so why stress over it?
I would instead encourage my clients—and anyone else feeling the pressure—to shift their focus to what they can control: their financial strategies, goals, and building a secure future.
Let's take a step back from the constant speculation and focus on what really matters and what we can control.
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