Consumer confidence driving property sales

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By Robert Carry

Affordability issues are failing to deter investors and homebuyers from making property purchases thanks to buoyed consumer confidence, according to RP Data.

"Property sales transaction volumes are increasing, home price affordability remains at historic lows, housing demand is high with a growing population and an undersupply of new housing, (and) improving consumer and business confidence," said RP Data's Ian Fraser at the company's AGM earlier today.

Fraser also hailed the company's recent performance saying RP Data remained a market leader and predicted that it will "be in a position to gain market share as the general market improves and real estate activity increases in line with the market".

Chief executive Graham Mirabito added that the promising economic outlook would help sustain demand for RP Data services.

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