A new survey has found that not only do an overwhelming majority of investors think it’s a good time to buy, almost three quarters aim to purchase a property in the next year.
According to the inaugural Smart Property Investment/PIPA Property Investor Sentiment Survey, 84.4 per cent of investors agree it’s a good time to buy.
Smart Property Investment managing editor Phillip Tarrant said momentum that built towards the end of 2013 was set to continue into 2014.
“The low interest rate environment is certainly underpinning this trend, but it’s also interesting to see investors confident in property’s capital growth prospects and its recognised stability compared to other investment assets.
“It’s a real vote of confidence for Australia’s property market,” Mr Tarrant said.
The survey also revealed a strategic attitude among investors, with 59.7 per cent of respondents describing their investment selection approach as part of a careful, long-term investment strategy.
PIPA chair Ben Kingsley said the more mature, professional approach to property investment was becoming the norm.
“The property market has calmed down over the years, and while still offering very attractive returns, careful selection has become more and more important and it’s certainly encouraging to see many investors taking a more considered approach," he said.
“These investors will be best placed to reap the rewards that property offers.”