When will it be a good time to buy a property? This is the question a recent industry study set out to answer, with half of Aussie homebuyers believing that time is now
Genworth’s Homebuyer Confidence Index (HCI) claims that Australian attitudes toward buying property are at their most positive since 2007.
Driven by improved affordability and an RBA cash rate at a significant discount to the 15-year average, the study shows sentiment is up 2.2% on March 2012 figures – making it the highest sentiment levels have been at since the GFC.
The HCI further indicates that nearly half (49%) of those surveyed believe now is a good time to buy a home. This is another high since 2007 and a 10% increase from March 2012.
Genworth CEO Ellie Comerford said the results show homebuyers are far more positive than much of the current public debate on the economy.
“Australia has some compelling economic indicators and a low cash rate that is making many potential homebuyers believe that now is a good time to be considering home ownership,” Comerford said.
Comerford was quick to add, however, the concerns remain around the global economy and the future impact this might have locally.
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