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300,000 tenants plan to buy a home this year

The property market’s momentum is one of the factors that will drive property prices up further this year.

And this trend will continue as it seems like more Australians are planning to buy a home.

You see… according to a report from Roy Morgan Research almost one in twelve renters in Sydney, Melbourne, Brisbane, Perth of Adelaide plan to buy a house in the coming year.

The report found that of the 11.5 million people aged 14 and over who lived in the mainland state capital cities, 32.4 per cent were renters.

However, almost 8% – 300,000 of the renters intended to buy a new or established home in the coming 12 months, Roy Morgan found.

10.7% of Perth renters planned to hunt for a home, while 9.4% of Melbourne tenants were planning to get on the property ladder. And a lesser proportion were planning to look in  Adelaide (9.1%), Brisbane (7.0% ) and Sydney (5.9%).

It’s going to be another interesting year in property.

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About

Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit Metropole.com.au


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