More Australians plan to buy a new home next year

More Australians are planning to buy a new home in 2018 according to a recent survey of 2,250 Australian mums and dads.

24% of respondents of the 2017 Property Investor Sentiment Survey conducted by Michael Yardney’s Property Update together with Your Investment Property Magazine said they planned to buy a new home in 2018.

This is up considerably from 14% who were planning to buy a new home 12 months ago.

But these potential home buyers are not being unrealistic about what’s ahead for property - 64% of respondents believe that property prices will remain flat, or increase by less than 5% over the next year.

Despite our property markets moving to the next phase of the cycle and property price growth slowing down, 60% believe now is a good time to buy property.

There are a number of likely reasons for this increased desire to buy a new home.  

On the one hand, many existing home owners are sitting on a significant amount of equity in their homes at present, following the recent strong property price increases. 

They now see the markets are taking a breather which will allow them a window of opportunity to upgrade their homes.

At the other end of the spectrum First Home Owner Grants and Stamp Duty concessions in several states, are encouraging greater activity by first-home buyers.

The number of first-home buyers in the past year was the highest since June 2015, according to a recent BankWest report.

And National Australia Bank’s most recent quarterly survey indicates that around 30% of all residential sales are being made to first-time buyers (including rentvestors).

You can download the full survey finding and our analysis by clicking here,

The survey: In November Michael Yardney’s Property Update and Your Investment Property Magazine polled their readers and 2,250 property investors and would be investors gave their input to the 2017 Property Investor Sentiment Survey, the largest and longest running survey of its type in Australia.

Running since 2011, it offers rich and vibrant insights into how property consumer trends and sentiments have changed over time.

WHAT are you planning to DO in 2018?

As signs point to softer growth conditions for Australian property over the coming months, independent professional advice and careful consideration will be as important as ever in navigating Australia’s varied market conditions.

Whether you’re planning to buy a home or an investment property, if you’re looking for independent advice, no one can help you quite like the independent property investment strategists at Metropole.

Remember the multi award winning team of property investment strategists at Metropole have no properties to sell, so their advice is unbiased.Whether you are a beginner or a seasoned property investor, we would love to help you formulate an investment strategy or do a review of your existing portfolio, and help you take your property investment to the next level.

Please click here to organise a time for a chat. Or call us on 1300 20 30 30.

When you attend our offices in Melbourne, Sydney or Brisbane you will receive a free copy of my latest 2 x DVD program Building Wealth through Property Investment in the new Economy valued at $49.

About Michael Yardney 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 one of Australia's 50 most influential Thought Leaders. His opinions are regularly featured in the media.