Not a lot - it will still be there!
The rent will continue to come in!
Will the perceived value change? Maybe but unless you get a valuation or sell it you will not notice a change.
When the market becomes uncertain people tend to hesitate and want to wait and watch what is going to happen, are values still on their way up? Or are they about to tumble?
Property has always been a mid to long term investment that you have complete control over. You choose the way it is managed, the amount of improvements you do to it and who pays your rent. Property is a investment that you can see, touch and know that it will be there forever.
The right time to buy property is when you have a adequate deposit, or equity to allow you to get an affordable loan and a secure income to service the loan.
Choose a property manager that will screen your ingoing tenant, do regular inspections, ensure maintenance is managed, do regular rent reviews and you will have a investment that will give you a regular income and moderate growth. Ignore the tenant horror stories you hear as they are few and far between and mostly a result of poor property management.
So if you ask me it is always a good time to buy property providing you follow the rules ” Position Position Position “ and that you can comfortably service with loan with the rent and your personal surplus income.