Australian property investors still believe property is a secure long-term investment despite the GFC, according to a new survey.
Perth-based property investment firm Momentum Wealth's latest Property Investor Survey has revealed that a staggering 98.6% of respondents are still confident in property as an investment proposition - a fall of only half a per cent from last year. Eighty per cent believed that we will see growth over the next year, while 70% said that now is a great time to buy. Over half of those surveyed said they were actively planning to buy an investment property in the next year.
Momentum Wealth managing director Damian Collins said the survey responses didn’t come as a surprise.
"Property has long been popular with investors as a reliable, tangible and consistent investment," he said.
"Post-GFC, lenders appear to be relaxing some of their policies, providing opportunities for investors who are not afraid to go against the herd to take advantage of some outstanding buying opportunities."
While four-fifths of respondents thought interest rates will rise over the next year, this has not affected the plans of three-fifths of those surveyed. Eighty-five per cent of respondents also argued that now is not a good time to fix their mortgage interest rates, while 64% had reviewed their mortgages to see if they could get a better deal within the last 12 months.
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