Experts' tip: Now's the time to buy a house

If you are secure in your job and have enough money saved, now is the time to buy a house, say real estate experts.

No one should try to pinpoint the bottom of the housing market and if the price is right, the timing is perfect, says BNZ chief economist Tony Alexander.

His call sits uncomfortably with talk of recession and the worsening international outlook, but it is based on sound judgment.

"As long as I figured on keeping my job I would be out there actively looking for a property at the moment," Mr Alexander said.

"I wouldn't be hanging off simply trying to pick the low point in the house-price cycle."

Economists had proved they could not pick the top of the cycle, so no one should expect them to pick the low point, he warned.

To read the full NZ Herald Article click here

Posted: 26 Feb 2009

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