Invest
Confused about the property market? You aren’t the only one
More than six in 10 Australians have lost confidence in their ability to achieve their property goals since the COVID-19 crisis began, a survey has revealed.
Confused about the property market? You aren’t the only one
More than six in 10 Australians have lost confidence in their ability to achieve their property goals since the COVID-19 crisis began, a survey has revealed.
The new insight from mortgage brokerage Aussie also unveiled the fact that a similar proportion of Australians have had to change their property plans due to the pandemic.
Aussie first commissioned a survey to test the market sentiment of Australians back in January pre-pandemic and retested confidence again in June to analyse COVID-19’s impact on the property plans of consumers.
It found that consumer confidence in the property market had suffered a collapse in the five months between the surveys – while 76 per cent of respondents were confident about the Australian property back in January, just 46 per cent felt the same way when resurveyed in June.
More than six in 10 respondents – 61 per cent - said the pandemic had caused them to change their property plans.
Half of those respondents – or 35 per cent of the total group surveyed – indicated that they had had to put their property plans on hold at the present time.
Despite the higher levels of concern and a lack of confidence, 42 per cent of Australians are still wanting to take advantage of the market, despite not being sure how.
Weighing in on this particular finding, Aussie CEO James Symond said home loan brokers’ enquiry levels are still strong, revealing plenty of interest still in the market.
He outlined that “there are many opportunities available right now that could make it favourable for Australians to enter the market, invest, downsize or refinance, including lender cashback incentives, reduced interest rates and government initiatives, such as the First Home Owner Grant, the $25,000 HomeBuilder grant and the First Home Loan Deposit Scheme”.
He advocated the role of brokers as having “an important role to play in helping Australians understand their options and make smart choices to keep their property goals on track”, with more than half of the survey’s respondents (54 per cent) indicating they would like more guidance when it comes to their property and finances.
About the author
About the author
Property
ANZ now expects house prices will end the year lower
With higher interest rates on the horizon, the bank is forecasting larger house price declines than previously expected. ...Read more
Property
Which capital cities are most attractive to property investors?
A new survey has suggested that investor attention is shifting away from Australia’s two largest capital cities. ...Read more
Property
Market uncertainty fails to discourage foreign property investors
While interest from foreign investors in Australian property has remained strong, HLB Mann Judd warned that tax increases could see demand shift to other markets. ...Read more
Property
Regional renters forced to spend more of their income than ever before
Renters in regional areas are spending nearly as much on rent as home owners are spending on mortgage repayments. ...Read more
Property
Aussie home buyers now need to save for over 11 years for a deposit
Since early 2020, the time needed to save for a deposit has increased by more than two years. ...Read more
Property
HSBC forecasts 2023 house price decline of up to 10%
The firm had previously predicted a modest rise for house prices next year. ...Read more
Property
Perth house prices continue climbing to a record high
While growth may have come to an end in Sydney and Melbourne, Perth house prices are still on the rise. ...Read more
Property
Stamp duty significantly slowing path to purchase for FHB
Saving for a home takes years for the typical first-time buyer. In Australia’s largest cities, as much as two years are spent simply building up the funds to pay the cost of stamp duty, according to...Read more
Wrapping up an eventful 2021
Listen now
What Omicron means for property, and are units right for first-time buyers? What is equity crowdfunding? Are industry super funds tapping into member funds to save their skins?
Listen now
Will housing affordability improve in 2022? Will buy now, pay later become the norm? Why are Aussies staying in failing super products?
Listen now
Who really benefits from crypto ETFs? How will the RBA respond to rising inflation? Could a mandate help address unpaid super?
Listen now
Property
ANZ now expects house prices will end the year lower
With higher interest rates on the horizon, the bank is forecasting larger house price declines than previously expected. ...Read more
Property
Which capital cities are most attractive to property investors?
A new survey has suggested that investor attention is shifting away from Australia’s two largest capital cities. ...Read more
Property
Market uncertainty fails to discourage foreign property investors
While interest from foreign investors in Australian property has remained strong, HLB Mann Judd warned that tax increases could see demand shift to other markets. ...Read more
Property
Regional renters forced to spend more of their income than ever before
Renters in regional areas are spending nearly as much on rent as home owners are spending on mortgage repayments. ...Read more
Property
Aussie home buyers now need to save for over 11 years for a deposit
Since early 2020, the time needed to save for a deposit has increased by more than two years. ...Read more
Property
HSBC forecasts 2023 house price decline of up to 10%
The firm had previously predicted a modest rise for house prices next year. ...Read more
Property
Perth house prices continue climbing to a record high
While growth may have come to an end in Sydney and Melbourne, Perth house prices are still on the rise. ...Read more
Property
Stamp duty significantly slowing path to purchase for FHB
Saving for a home takes years for the typical first-time buyer. In Australia’s largest cities, as much as two years are spent simply building up the funds to pay the cost of stamp duty, according to...Read more
More articles
Website Notifications
Get notifications in real-time for staying up to date with content that matters to you.
