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1 in 4 Aussies wants to buy a property now

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1 minute read

1 in 4 Aussies wants to buy a property now

by Emma Ryan 28 October 2020 1 minute read

New research has found that Australians increasingly have their sight set on buying property, with one in four looking to purchase now.

1 in 4 Aussies wants to buy a property now
October 28, 2020

The research, commissioned by ING, has found that 26 per cent of Aussies think now is the time to buy a property in order to safeguard their future. Forty-four per cent described property as the strongest investment option. 

Low interest rates was pinpointed as a key factor for 32 per cent who feel more confident to buy property, while 27 per cent said it was the prospect of lower house prices.

A further 37 per cent of Aussies surveyed said they are saving more, while 40 per cent said they are spending less, during the COVID-19 pandemic. 

“The research suggests COVID-19 has left many Aussies cautiously thinking about how they can invest to take greater control of their financial future,” said Julie-Anne Bosich, ING’s head of home loans, commenting on the findings.

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“While, understandably, not everyone is in a position to use their finances to invest, our research has found that for those who are, the preferred investment choice is property, especially in the current climate where interest rates are at a record low.”

Breaking down those looking to buy, the ING research found that 25 per cent of Millennials and 23 per cent of Gen Z were saving to cover costs associated with their planned property investment. 

Melbourne is the number one hotspot 28 per cent of Aussies are looking to invest in, according to the research. This was followed by Sydney, which 24 per cent of respondents selected, then Brisbane (17 per cent) and the rest of NSW (16 per cent).

1 in 4 Aussies wants to buy a property now
1 in 4 Aussies wants to buy a property now
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About the author

Emma Ryan

Emma Ryan

Emma Ryan is the deputy head of content at Momentum Media.

Emma has worked for Momentum Media since 2015, and has since been responsible for breaking some of the biggest stories in corporate Australia, including across the legal, mortgages, real estate and wealth industries. In addition, Emma has launched several additional sub-brands and events, driven by a passion to deliver quality and timely content to audiences through multiple platforms.

Email Emma on: [email protected]Read more

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