Strong buying property intent to continue throughout 2015: Roy Morgan

Over 1.3 million Australians 14+ (6.8%) intend to buy or build property in the next year — equivalent to over half a million homes trading hands or being built, new intention data from Roy Morgan Research shows. 

Interestingly only a quarter of all property intenders nationally live outside the seven capital cities. 

Intention to buy or build property in the next 12 months

Source: Roy Morgan Single Source, April 2014 –March 2015. 

Between them, Sydney and Melbourne are home to just under half of all Australia’s property intenders.

Perth is the next largest market (165,790), with more intenders than Brisbane (124,670) despite being a smaller city overall.

However there are distinct differences between exactly what sort of property these three cities’ intenders want to buy, which may be key to predicting actual sales outcomes in 2015 and beyond. 

The bulk of Sydney property intenders (71%) are planning to buy an established house or apartment, while almost half as many (38%) want to buy or build a brand new property. This desire for established property could signal a continued pricing boom in 2015, with house-hunters battling over the set field of existing properties. In Melbourne, the ratio is close to the national norm with 67% of intenders after an established home and 43% seeking something new. 

However in Perth, half of intenders (50%) want to buy a newly built house or apartment— or to build it themselves— while only 55% have their eyes on an established property. 

Proportion of intenders seeking established or new property 

Michele Levine, CEO Roy Morgan Research, says around 220,000 Sydneysiders and 206,000 Melburnians will keep prices high and auctioneers and agents busy this year, while developers, builders and architects will be most in demand in Perth.