A good time to buy property? A record high number of Aussie's think so
A record two thirds of Australians say now is a good time to buy property, according to the latest research from comparison website Finder.
Having surveyed over 20,000 respondents in their Consumer Sentiment Tracker nationally, 67 per cent believe now is a good time to buy, an all-time high since Finder began tracking the stat in May 2019.
It was 42 per cent in April.
Graham Cooke, insights manager at Finder, said that the recent uptick in buyer confidence is a good sign for the economy.
“This rebound in buyer confidence is indicative of increased economic activity over the past few months, along with an optimistic outlook for 2021," Cooke says.
“Not only did the Australian government do a better job than most at restricting the spread of COVID-19, but federal and state economic support measures helped prop up the property market.
“Now we're seeing that house values in every capital city bar Melbourne are higher than they were compared the same time last year.
“This trajectory looks set to continue, with 86% of economists telling Finder* that they expect prices to fully recover nationally this year,” Cooke said.
Nearly 19 per cent of Australians expect house prices to "significantly increase" in their area. That was just five per cent in September.
Those who expect property values to "somewhat increase" has jumped to 44% from a low of 18% back in April.