With the current crisis, most investors are opting for defensive positions and pulling out of the stock markets. But some investors learnt a valuable lesson from the GFC, where we saw some clever investors make their fortunes by taking advantage of the low market.

Some people are applying that thinking to the property market, and want to know if now is actually a good time to be buying property. The answer is: it depends. It depends on your level of risk.

You can likely buy for cheaper right now, but finding a tenant may be troublesome. So you have to weigh up what’s more important to you: capital gain or rental income. It also depends where you want to buy. Not every area will be affected to the same extent. Inner city areas with lots of rental apartments will be hit hard. Areas dependent on tourism and short-stay accommodation will be hit even harder. Educational hubs will also be affected. Living in an area with excellent schools isn’t as important in the short-term if your children are remote-learning anyway. But other suburbs, which are wealthier and generally owner-occupier, may escape drops entirely.

There are simply too many variables in play to give a universal answer. But like all investments, there’s always an opportunity for those who are willing to do the research.