As millions of Australians are plunged into lockdown, the property markets around Australia are showing no signs of slowing down, according to staggering new research by Finder.
A nationally representative survey of 1,015 respondents found that even with huge rises in average prices in most capital cities, almost 3 million Australians are planning to purchase a property in the next 6 months.
The research revealed 7% of Australians are looking to buy as an investment, while 7% plan to live in the home they buy.
Finder’s survey shows 27% of Australians – equivalent to over 5 million people – would buy a property in the next 6 months if they were able to afford it.
Finder’s home loans expert Sarah Megginson said that when it comes to getting your foot in the door, planning is key.
“Buying your first home is one of the most significant financial commitments you’ll make in your life, and that can feel intimidating.
Fortunately, there are many ways to enter the market, and it’s not a race.”
The research found that more than 1 in 4 Millennials are in the market for a new home or investment (27%), compared to 17% of Gen Z and 9% of Gen X.
Just 4% of Baby Boomers plan to purchase a home in the coming 6 months.
Men (19%) are twice as likely as women (9%) to be in the market for a new home or investment.
|Are you planning to buy property within the next 6 months?|
|No, but I would if I could afford it||27%|
|Yes, as an owner occupier||7%|
|Yes, as an investor||7%|
|Source: Finder survey of 1,015 respondents, July 2021|
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