Property investors more downbeat over sector prospects
Property investors have become increasingly downbeat about the short-to-medium-term prospects of the Australian housing market, new research shows.
New figures likely to be of interest to those Australians on the lookout for home loans show that 43 per cent of investors expect property prices to increase by as much as five per cent over the next 12 months.
This compares to the 83 per cent of investors who expressed such optimism at the same point of 2010, suggesting that rising interest rates have helped dampen confidence in the property sector.
Indeed, 30 per cent of those polled for this latest Investor Pulse study from Business Day and Colmar Brunton Research said that they expect prices to remain flat over the year ahead.
Meanwhile, the Canberra Times has reported that the latest Residex figures show that house prices in the capital fell again over the course of January, potentially spelling good news for those looking to compare home loans and buy a property in the city.
Have a question about home loans? Ask the money gurus at Mozo Answers.