Buyers Remain Optimistic

Home buyers believe now is a good time to buy, following predictions that property prices will continue to rise this year.

The Residential Audience Pulse Survey released this week, shows 40% of buyers think property prices will increase in the next six months.

Despite this 35% of respondents believe now is the time to buy, up 9% on the previous quarter.

The report says this suggests that while apprehensions exist, many buyers remain optimistic about market conditions. The survey says almost a quarter of consumers aged 18 and above are actively looking to buy.

The biggest motivator for buying was a lifestyle change (32%), followed by making financial gains (18%), downsizing (13%), retirement (12%), and upsizing (12%).

About a third of respondents say they believe demand for property will be even stronger in the coming months.

First-home buyers look set to not be as active with a drop of 3% compared to the previous quarter who are looking to secure a property in the next five years.

4600 people were surveyed for the report, which examined buyers’ perspectives on the market.