Property investors are worried more about global economic uncertainty than they are about interest rate movements and real estate prices, according to a recent survey.
When asked ‘what do you think is the main factor influencing property investors in 2012?’ it was found that 43% of Loan Market’s mortgage brokers chose global financial turmoil as the number one topic of concern.
Property prices came in second (26%) followed by rental yields (22%). Surprisingly, only 9% of the 209 brokers who took part in the survey picked interest rates as a key factor for investors.
“While there’s a continual focus on interest rates, the economic situation in Europe and the potential impact it could have on Australia is the major factor for property investors,” said Loan Market corporate spokesman Paul Smith.
But despite mounting concern about the US and European debt crises, there is a growing feeling that property investors will come out of the woodwork this year.
“A recent survey had found 33% of our brokers believed property investors would be the major consumer group in the housing finance sector in 2012,” said Smith.
“Further interest rate reductions and softened property prices in recent months have been enticing investors and first time buyers, who are also targeting investment properties as their entry point to the property market.”
What are your main concerns as a property investor in 2012? Have your say on our property investment forum.
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