Australians expect Property Prices to Rise
A recent study of Australian consumer sentiment that gauged confidence in the market revealed that half of all respondents believe that property prices are going to rise in future months, and 41% expect them to increase in the coming six months.
The survey, released by RP Data Nine Rewards, questioned over 1,000 consumers on what they expect of the Australian real estate market during the coming year.
RP Data research director, Tim Lawless, stated that the survey showed there was a pronounced upward move of positive expectations; however, he pointed out there were both distinct differences and similarities in consumer sentiment from across the country.
Mr Lawless highlighted that 59% of residents in Perth expect property prices to rise over the next six months, and 56%of respondents in Sydney also expect values to increase over the next six months.
In contrast, none of the respondents in Tasmania expect property prices to rise in the next six months, and proffered a much more sedate outlook for the housing market.