Seven out of 10 property investors say it’s a good time to buy residential property with the majority also believing it’s ‘business as usual’, according to a survey by the Property Investment Professionals of Australia and the Property Investors Council of Australia. The results, which examined the market’s short-term prospects, are down only slightly from an investor sentiment survey conducted in September last year. PIPA chairman Peter Koulizos says the survey shows that investors were overwhelmingly optimistic.
“Nearly 60% of respondents indicated that the pandemic had not made them change their investment plans over the next six months, with a further 18% saying the crisis had actually made it more likely they would purchase a property over that timeframe,” he says. “The survey results also showed about 30% of investors were more likely to buy a property in the next 6-12 months because of the pandemic. Koulizos says most investors have the financial buffers to see them through the current economic uncertainty.