Home Mortgage News Urge to invest in property remains strong

Urge to invest in property remains strong

Published on 12 Mar, 2009

A large number of people are planning to invest in property even as some experts are predicting a collapse in the housing markets, a new survey by Your Mortgage has found.

A large number of people are planning to invest in property even as some experts are predicting a collapse in the housing markets, a new survey by Your Mortgage has found.

More than three in five respondents said they are planning to buy an investment property within 12 months, especially in the lower price range.

Some 61% of readers were considering purchasing a property in the next year, with another 18% thinking about buying in the next three months. More than 85% said they already owned a property. The annual reader survey was conducted based on voluntary reader response.

The strong buying sentiment matched other recent surveys published showing more Australians are becoming interested in owning property again.

The survey conducted by Your Mortgage also found a majority of readers are looking to buy more affordable properties, with 36% looking to purchase a home at or below $350,000, and 70% looking to buy at or below $450,000. Only 7% of readers said they wanted to buy above $700,000.

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