little piggy says go to market in Year of the Pig

little piggy says go to market in Year of the Pig

Pigs have long been known for their sound real estate investment advice.

They’ve been keeping the wolves at bay with bricks and mortar for generations.

So what does the average pig think about the Aussie property market in 2019 — the Year of the Pig?

RELATED: 2018: The furry forecast for the market in Chinese New Year of the Dog

2017: Agents crow about lucky time for homebuyers in Chinese New Year of the Rooster

Despite the glum forecasts for Melbourne and Sydney property markets, the Year of the Pig promises to reward Aussie property pundits willing to get their hands dirty in 2019.

While the pig is a symbol of fortune in Chinese culture, it’s also one of hard work without expecting anything in return, according to Biggin & Scott Glen Waverley director Ming Xu.

“From that point of view, we can see that this year, the real estate market is going to be a good one for those who take a relaxed view,” Mr Xu said.

“And for any buyers who want to get into the market, it’s a good time as it represents fortune for them in the future.”

With the financial services commission drawing to a close every politician, banker and land rat (real estate agents) in the nation has been sharing their views on what’s to come.

But if you want to know what’s going to happen in the Year of the Pig, you might as well go straight to the source.

We asked Peppa the pig (no relation) and 12 new piglets recently born at Myuna Farm in the Melbourne suburb of Doveton for some piggy predictions on the year to come.

Their advice?

Naturally they’d advise brick builds as a solid investment, and certainly a better bet than straw.

Don’t fear changes to negative gearing, or the fallout from the financial services Royal Commission.

Do consider selling your home.

And first-home buyers — start think about renting something that looks like a bit of a pig-sty if you’re serious about saving enough to break into the market.

The last piece of advice is something we should all pay attention to, with a pigsty potentially your ticket to good fortune, according to Mr Xu.

“Make sure it has a good structure and you could renovate it after saving money at purchase, then make money when you sell in the future because you have put in the hard work,” he said.

Likewise, those who spend their Saturday mornings at auctions and inspecting homes will be more likely to spot when the market turns a corner — giving them a head start for when the market begins to rise again.

But despite a surge in searches for Australian property coming from mainland China in January, don’t expect the Chinese New Year to start with herds of foreign investors sticking their snouts in your neighbourhood’s trough.

“We saw a spike of 32 per cent from December, so it really peaks in January,” said chief economist Nerida Conisbee.

“Though it’s still high in February.”

Extra taxes, declining new construction and difficulties getting finance here as well as getting money out of China have reduced foreign investor appetite in recent years.

“And we are seeing very negative media in China with regards to Australian property,” Ms Conisbee said.

“A lot of the loud coverage of how Australian properties are going here is being amplified over there.”

But they’re still looking at most of the nation’s capital city’s, except Sydney where searches have dropped off by about 10 per cent.

Interest in Melbourne’s suburbs is fairly stable, and Brisbane and Hobart are well ahead compared to the same time last year, according to data.

“Chinese New Year would be a factor, and we know how interested they are in our education system so there might be a link with the start of the school year,” Ms Conisbee said.

Searches typically centred on areas with high new development, including Chatswood in Sydney, as well as Box Hill and Point Cook in Melbourne.

But areas around universities also attracted strong search responses, Ms Conisbee said.

And if you really want to boost your property karma in 2019, maybe take it easy on the bacon.

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