Survey says investors are keen on property
Survey says investors are keen on property
Posted on Wednesday, June 12 2013 at 3:55 PM
A study by one Australian mortgage broker indicates property is a priority for investors over the next two years.
The 2013 Homeowner Intentions Survey commissioned
by Mortgage Choice shows 26 per cent of respondents are considering buying an
investment property, with 56 per cent of these signifying they intend to make
the purchase in the next two years.
A total of 1032 Australians
who have a mortgage and have been a homeowner for two or more years completed
the survey.
Belinda Williamson, head of
corporate affairs at Mortgage Choice, says the results bode well for real
estate.
“It’s really positive news
for the property market to see a considerable chunk of homeowners weighing up
the decision to purchase an investment property in the near future.
“With lenders’ interest
rates on both home and investment property loans at their lowest point in
recent years, it isn’t altogether surprising.”
The numbers show that of the
25 per cent of survey participants who own investment property, 68 per cent own
one property, 19 per cent own two and 13 per cent own three or more.
Dominique Bergel-Grant, a
director at Leapfrog Financial, believes property investment is in favor, but
buyers are both educated and cautious.
“I think people have
definitely got more confidence in the property market than they did 12 to 18
months ago, but people are being very savvy and quite slow in the purchase
decision.”
Bergel-Grant sees the
various sectors moving at different paces with first homeowners being locked
out of the market by strong prices and high deposits.
“The people that are buying
at the moment… are those people particularly with the cash in their bank account
or the equity.
“I don’t think they’re
(investors) pulling money out of shares or managed funds to invest.”
Bergel-Grant says most
buyers are likely to take advantage of comparatively affordable blue-chip
properties in the current market.
“It’s not as if they’re
going out and buying cheap little properties. It’s really a case of them saying
we want something for long-term capital growth.”
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