Soaring property prices haven’t dampened enthusiasm to secure bricks and mortar assets, with plenty of Australians revealing they plan to buy something before the end of the year.
Research by Finder reveals almost 3 million Aussies intend to buy before the year is out and plenty more would like to if they can afford it.
Lockdowns, vaccine shortages and state premiers bickering amongst themselves hasn’t been enough to quell our desire to secure property, with the rush to buy showing no signs of slowing down.
The survey of more than 1,000 Australians found increasing property prices – CoreLogic data suggests house prices have risen 14% in the first six months of 2021 – were not a deterrent to the 14% of Australians (an even split of investors and owner occupiers) determined to buy by the end of 2021.
With the number of investors planning to return to the market on the rise, first-home buyers – who had a fairly free run in 2020 – will once again be competing for affordable stock.
One in four Millennials (those currently aged between 24 and 40) plan to buy in the next six months, as well as 17% of Gen Z (those up to 24 years of age), 9% of Gen X (41 to 56-year-olds) and 4% of baby boomers (57 to 75-year-olds).
Men are twice as likely as women to be planning to buy a new home or investment property.