Majority of Australians believe it's a bad time to sell: NAB

Majority of Australians believe it's a bad time to sell: NAB
Staff reporterFebruary 6, 2019

Most Australians think it's not a good time to sell a property, according to a new survey.

According to NAB's latest consumer survey, a majority of respondents said they'd prefer not to list either the property are living in (56%) or an investment property (51%).

Some 41% also said that it wasn’t a good time to take out a mortgage for investment property.

The survey found roughly half of Australians said it was a good time to renovate the home they were living in (53%).

Buying a property to live in was the aspiration of 49%.

Mostly consistent in the different states some were outliers, in TAS the number who said it was a good time to buy a home to live in ranged from 61% in WA (where dwelling prices are around 17% lower than the last peak in mid-2014) to just 46% in NSW and QLD.

"When it came to selling a property to live in, the number of consumers who said it wasn’t a good time to sell was highest in WA (69%) perhaps also suggesting some home owners may be currently sitting on capital losses," the report said. 

"It was lowest in TAS (36%) which has also been fastest growing state for house prices since late-2017 and also the only state where consumers believe house prices will continue growing over the next 12 months."

"When it came to whether now was a good time to buy an investment property, WA was the most positive state and TAS (28%) the least positive followed by QLD (32%)."

"But more consumers in TAS (34%) thought now was a good time to sell an investment property, by far the highest number of all states," the report added.

Tags:
Nab

Editor's Picks

Hamton launches sales at Scotch Hill Gardens, Hawthorn
RBA cut interest rates amid inflation decline
Reddam House North Shore opening to lure families to North Sydney
Woolworths to sell another prime Brisbane development site with apartment approval
TOGA's vision for building vibrant new community precincts across Sydney