A staggering 74% of Australians think that now is the right time to buy property. This is slightly less than last year when 80% of respondents responded positively, yet RP Data’s Nine Rewards Survey showed that most Aussies think it is still the right time to buy.
Results varied from state to state with fewer respondents in Sydney believing the time is right. Dwelling values have increased by 12.2% since May in Sydney, but 63% still think that now is a good time to buy.
In contrast, not one respondent in the Northern Territories believed that now is the right time to buy property. In Adelaide, regional Western Australia, regional Queensland and Brisbane, 80% of respondents believed the market is in a good position for buying a house or apartment.
According to the survey, 51% of all respondents are expecting property values to rise over the next six months. This is significantly higher than the 33% who believed the same last October.