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A new survey has found that almost half of Australians with property in their pocket are actively looking to expand their investment portfolio in the next six to 12 months.
According to the 2020 PIPA Annual Investor Sentiment Survey, which gathered insights from over 1,000 property investors during August, Australians remain largely optimistic about buying in the months ahead.
In fact, the survey found that 44 per cent of investors are looking to purchase in the next six to 12 months.
“While there is no doubt that 2020 has been one of the toughest in living memory for everyone around the globe, property investors have remained resilient in the face of the unprecedented uncertainty that we are all experiencing,” PIPA chairman Peter Koulizos said.
“Indeed, about 67 per cent of investors believe that now is a good time to invest in residential property, according to the survey, which is down from 82 per cent in 2019 and no doubt a direct impact of the pandemic.
“However, at the current time, the property market has continued to show its resilience with prices materially stable in most parts of the nation.”
The survey found approximately 77 per cent of investors say that any concerns about potential falling house prices won’t cause them to put their investment plans on hold.
“Plus, about 71 per cent of investors have indicated that the pandemic has made it less likely they will sell a property over the next year, which is another factor that will help to underpin property prices,” he said.
That being said, there is some room for improvement, with the survey finding the vast majority of investors want to see greater professional standards and more education within the market.
The survey found that about 86 per cent of all investors surveyed continue to believe that more education is needed around the risks and benefits of investing in property.
A further 93 per cent of investors continue to think that any provider of advice should have some sort of formal training.
“About 90 per cent of investors believe the property investment industry should be regulated and licensed the same way financial planners, mortgage brokers and real estate agents are,” Mr Koulizos said.
Property refers to either a tangible or intangible item that an individual or business has legal rights or ownership of, such as houses, cars, stocks or bond certificates.