Seven out of ten real estate consumers feel positive or neutral about the market, according to the latest edition of ME’s Quarterly Property Sentiment Report.
It found 37% feel neutral towards property overall, while 35% feel positive and 28% feel negative. However, investors are more positive than owner-occupiers or first-home buyers, at 44% of respondents.
According to ME’s general manager of home loans, Andrew Bartolo, the positivity in investors and younger age brackets shows the sentiment that the current state of big city markets provide good opportunities to buy.
Investors are also optimistic about property prices. More investors expect the value of their property to rise over the next 12 months more than those who think they will hold steady or decline; 32% are expecting a rise, as opposed to 30% expecting declines and 30% not expecting any movement.
Overall, property owners in metropolitan Tasmania are expecting value rises the most at 50%, followed by those in metropolitan NT (40%). “Sentiment has also likely improved since we conducted the survey, given negative gearing is now off the table and APRA has proposed changes to home loan serviceability,” he says.