New survey highlights paradox in housing market attitudes

Font size :

According to the latest quarterly housing market sentiment survey by CoreLogic and TEG rewards, almost two-thirds of Aussies think now is a good time to purchase residential property. Yet roughly the same proportion also believes that the housing market is vulnerable to a significant correction.

Sydney-based respondents were the most pessimistic among the 2,432 Australians surveyed, given the affordability constraints in their city. Still, slightly more than half of them felt that it was still a good time to buy.

On the other hand, regions where dwelling values have already peaked and now show a downturn are where respondents feel confident about buying conditions. These include 80 per cent of the respondents from the Northern Territory, Regional Western Australia, and Perth.

On the national level, 38 per cent of respondents expects dwelling values to rise over the next 12 months. This is lower than a year ago, indicating that respondents have become less optimistic with regard to their views on capital gains over the next financial year.

When it comes to rent, only 11 per cent of the respondents expect weekly rents to fall over the next 12 months, despite CoreLogic rental series showing the weakest rental conditions in at least two decades. 

The numbers are closer to equal on the national level between those who expect the rent to rise and those who expect it to remain stable, but there were considerable variations across the regions. There is a low expectation of rental rises in Perth and Regional Western Australia, in line with current statistics showing ongoing falls in weekly rents across most parts in Western Australia.

With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now

Mortgage News and Articles

How to tell when a housing market is cooling How to tell when a housing market is cooling

You need to check clearance rates, listings, and the price gap, among other factors Read more

Growing demand for green apartments in Sydney Growing demand for green apartments in Sydney Both owner-occupiers and investors favour eco-friendly buildings for their energy-saving features and reduced environmental footprint ... Read more

Are property investors as rich as they appear? Are property investors as rich as they appear? A multi-property portfolio doesn’t guarantee easy millions ... Read more

Be proactive about getting a better mortgage deal Be proactive about getting a better mortgage deal Apathy could be costing you a considerable amount of money over the lifespan of your loan ... Read more

More mortgage news and articles

Sponsored Links

Friday, Sep 22, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Let us help you find the right home loan for your needs.

Tell us a bit about your circumstances:
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords