White-collar workers favour investment properties

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White-collar workers are more than three times more likely than blue-collar workers to put money into an investment property in the next three months.

Dun & Bradstreet's latest Consumer Credit Expectations survey has revealed that 7% of white-collar respondents are likely to invest in property in the coming months, compared to only 2% of blue-collar respondents. White-collar workers are also more likely to apply for a new credit card or a credit limit increase.

The survey also revealed that almost one-third of Australians will struggle to meet their credit commitments in the September quarter, and 37% intend to use their credit card to purchase something they could otherwise not afford.

Interest rates are also a concern, with 47 % of respondents saying a rise in interest rates will have a negative impact on their household's finances.

Dun & Bradstreet CEO Christine Christian said the data indicate consumers remain heavily reliant on credit despite the downward trend in anticipated access to new lines of credit.

"Consumer concern about the effects of a rate rise on household finances does not seem to be deterring Australian from utilising credit. We have seen credit use remain consistent throughout the recession and beyond," said Christian.

"Yet the reliance on credit for household purchases in spite of apprehension about their ability to meet these commitments is worrying, as an issue that can affect their future credit rating and ability to access credit - often when they need it the most."

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