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Four out of five people surveyed for the latest 'Consumer Housing Market Sentiment Survey' have said that right now is a good time to buy real estate.
According to the latest report released by RP Data and Nine Rewards last week (May 28), 80 per cent of the 1,030 Australian residents surveyed thought buying up property now would be a good investment - an increase of four per cent from October 2012.
On the flip side, however, only 37 per cent thought it was a good time to be selling real estate in Australia.
Furthermore, half of those surveyed believed that Australian homes would increase in price over the next 12 months. Despite the positive sentiment, 48.5 per cent responded that they expected growth to fall between 2.5 and 5 per cent in the next year.
RP Data national research director Tim Lawless said that the results from last month's survey have revealed a distinct upwards trend on those released six months earlier.
"As consumer confidence in housing market conditions rises, we are likely to see a larger number of dwelling sales as the year progresses," he said in a statement released May 28.
"We have already seen buyer numbers rise from their early 2012 lows, and transactions over the past six months are about 4.3 per cent higher than the same time a year ago."
