Is now a good time to buy a property or home? RP Data posted this question on their Nine Rewards survey. Nationwide, 74% of respondents believe so. This was slightly lower than the results for last year at 76%. Meanwhile, 56% of the respondents believe that this is the right time to sell, with Sydney taking the lead at 73.7% after posting the strongest auction results over the weekend.
Although the nation is showing optimism in the property sector, it is also important to note that as part of the survey, a question was asked whether Australia’s housing market is vulnerable to a significant correction in values. 60% of the respondents think so, showing uncertainty for the future of this sector. Home buyers are encouraged to proceed with caution and to consult licensed financial planners if they plan on investing in property.
For the complete survey results, read more on the Property Observer website.