4 in 5 house owners expect residential property prices to maintain climbing: Report
A brand-new study on Property Growth has disclosed that Australian homeowners are still bullish on the capacity for cost gains in 2022.
Property Prices
The survey of 1,003 property owners for The LocalAgentFinder Real Estate Sentiment Report located a bulk even expect household values will enhance by 10 per cent or more over the fiscal year.
While 81 per cent of respondents– or 4 in 5 homeowners– think home costs will increase across 2022, nearly 6 in 10 anticipate those gains to be more than 10 per cent.
Just 13 per cent of those surveyed anticipate costs will tip over the 2022 calendar year.
Evaluating the survey results recommended that “despite the amazing rate growth and sales volume through 2021, Australians continue to be rather favourable on the market’s leads in the short-term”.
“This confidence is most likely created from the remarkable resilience of the building market via the pandemic. Several might really feel that this is likely to continue with the easing of limitations as Australia opens back up.
As asking respondents for their expectations around Queensland Property Prices, the study additionally probed proprietors on topical home concerns.
It found that almost one-third of all homeowners– or 27 per cent of respondents– feel that COVID’s impact on their way of life had made them think about moving places.
Nearly three-quarters (74 per cent) agreed that working from home now was a benefit to workers– with 36 per cent of house owners believing it would certainly remain to support residential or commercial property price growth.
For anybody that has already made a “sea or tree change” since the pandemic’s start, 62 per cent stated they were “extremely pleased”, 24 per cent were “happy”, 10 per cent were undecided today.
It was revealed that respondents that had relocated to coastal locations were a lot happier than those that moved inland to major and minor Rural locations (91 per cent versus 78 per cent satisfied).
It appears that cost is starting to weigh on the minds of property owners– regardless of the favourable sentiment held by the bulk of respondents.
The study also highlighted that 83 per cent of participants favoured restricting the number of residential properties that international buyers can get.
The remark was that “this probably relates directly to how affordable housing has become”.
Upwards of 80 per cent of survey participants concurred housing affordability was a “huge” issue for Australia, with 6 in 10 individuals saying that the federal government “needs to do even more to aid first house purchasers”.
