Property and savings top investment wish-list

Thursday 31 December 2009

Article by Mozo

Almost three-quarters of Australians believe now is a good time to invest in property, a report has found.

The latest Citibank Australian Wealth Report revealed that 74 per cent of respondents consider property to be their best option for investment. A savings account, fixed-term deposit or cash management trust was the next most popular option at 68 per cent, the Australian reports.

Citibank’s survey, conducted by Newspoll to cover a national sample of 1,085 people aged 25 and over, found that investing in shares was the least popular choice at less than 50 per cent, the report added.

Andrew de Graaff of Citibank said that following the financial crisis people were keen to have stable investment options for their money.

"The perception we got from the survey is people are just wanting to get that sense of security again," he told the news provider.

The findings suggest that many Aussies are now inclined to compare home loans and to compare term deposits in search of the best deals for their money.

This week Lisa Montgomery, head of consumer advocacy at Resi Mortgage Corporation, told the Australian Associated Press that many homeowners face having to remortgage their properties as a result of rising interest rates next year.

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