A January survey by RP Data has found 76 per cent of Australians surveyed believe now is a good time to buy property, despite concerns about the sustainability of values.
However, the result was lower than January last year (80 per cent) but slightly higher than October last year (74 per cent).
The RP Data-Nine Rewards housing market sentiment survey saw 1,047 participants answer a range of questions on what they expected from Australia’s property market over the next six to 12 months.
Half of the surveyed respondents (50 per cent) expected dwelling values to rise over the next six months compared to just 38 per cent a year ago, while only five per cent of respondents are expecting values to fall over the next six months.
“While most respondents think values will continue to rise, it is interesting to note that most respondents are also concerned about the sustainability of dwelling values,” RP Data national research director Tim Lawless said.
“At the same time we are seeing transaction numbers continuing to rise and auction clearance rates that are at near-record highs,” Mr Lawless said.
“This suggests that market demand remains high despite these concerns.”