1. Skip to navigation
  2. Skip to content
  3. Skip to sidebar




Property News

Aussie Love Affair with Property Still Going

June 04, 2011

According to a recent survey three quarters of respondents said they intend to purchase property in the next five years and almost 30% are looking to buy in 2011.


The annual QBE LMI mortgage report is a survey of 864 mortgage holders and people looking to get into the property market over the next five years. The study was held in February by market research company CoreData.


While some see the market as overvalued, there is also a fear that waiting to get into the market will ultimately be more expensive as prices continue to rise.


It appears there is a strong appetite for property in the short-to-medium term Australia-wide, with 74% of respondents saying they intend to purchase property in the next five years and 29% intending to do so by the end of 2011.


Thirty-nine per cent of respondents said property prices would be higher in 2011 than they were in 2010, while 25% expected a pullback. Thirty-three per cent expected no change.


Just under 60% said property will increase in price strongly over the coming three years.


Seventeen per cent of respondents see property as an effective way to build wealth quickly and despite the highly publicised property market crashes in the US and UK during the GFC, only a small fraction (13%) believe that property can be a risky investment, according to the report.


Younger respondents and owner occupiers were more likely to report mortgage stress than older people - 31% of Gen Y reported mortgage stress versus 26% of Gen X.


Less than 20% of property investors reported mortgage stress versus 26.9% of owner occupiers.


The survey's findings suggest mortgage holders are feeling the pinch from the string of rate rises over the past couple of years and rapid appreciation in property values requiring mortgage holders to borrow larger amounts of money.


Sixty-three per cent of respondents described the market as 'overvalued'.

Latest Articles

The winners are…

The LJ Hooker New Year Campaign has finished, with 5 winners who had their home appraised by an LJ ...
read more

Why do tenants choose to rent?

There are many reasons why tenants opt to pay rent over purchasing. Some of these factors ...
read more

Holiday home demand spurred by fall in Aussie Dollar

More Australian families are opting to invest in the thriving local holiday real estate market, ...
read more

Demand meets supply in apartment rentals

The latest market analysis from the Domain Group suggests the surge in apartment construction in ...
read more

LJ Hooker awarded Best Quality Service by Reader’s Digest

LJ Hooker, Australia’s number one real estate network, has reinforced its position as ...
read more

Home ownership remains the plan for tenants

Capital city price growth has not ended the dream of property ownership for tenants, with a survey ...
read more