Property enthusiasm starting to wane, says report

There has been a sudden turnaround in housing sentiment despite the favourable market conditions, according to the latest Quarterly Property Sentiment Report from ME Bank.

Overall sentiment among buyers and sellers dropped over the last three months from the record high achieved in the first quarter of 2021. First-home buyers reported the lowest level of positive sentiment while investors recorded the highest.

Claudio Mazzarella, head of home loans and personal banking at ME Bank, said this was opposite of what happened last year when prices started to fall due to the pandemic.

“When property prices and interest rates lowered last year during the pandemic, a unique buying opportunity opened up for confident first home buyers with cash savings and secure employment, while many investors became nervous,” he said. “Now prices have rebounded strongly and affordability is going down, first home buyers aren’t feeling as positive.”

The report showed an increasing worry about the availability of residential properties. In fact, around three in five of Australians believe there is not enough choice in the current market. This was apparent among regional buyers, particularly in New South Wales.

“With more city dwellers moving to sea or tree change areas, supply is dwindling and adding pressure to prices,” Mazzarella said.

Given the perceived lack of supply, affordability becomes a concern for 91% of Australians. More than 60% of homebuyers expect prices to increase in the next 12 months.

While the increasing house prices spell bad news for first-home buyers, the trend has an opposite impact on existing homeowners and investors.

A quarter of investors want to cash in on high prices as they plan to sell their property in the next 12 months.

“Rising prices are making property owners feel wealthier, when many buyers are stretching their budgets to afford the limited but growing availability of stock on the market at the moment,” Mazzarella said.

Related stories:

About ljgrealestate 据联大

Removing the Hassle from Sales and Rentals across South East Queensland. Aim to Empower other like minded Property Investors. LJ Gilland Real Estate Pty Ltd LREA推荐书LJ Gilland房地产 http://ljgrealestate.com.au/testimonials/ http://ljgrealestate.com.au/competitive-commission/ http://ljgrealestate.com.au/property-management/ http://www.facebook.com/ljgrealestate L J Gilland Real Estate is a prestigious boutique agency specializing in Property Investment Management Services and the Sales of Investment Properties with tenants in place. Comprised of a top performing group of handpicked specialists, our Agents proudly serve Property Investors in Queensland. Since 1996 our Agency has demonstrated a genuine enjoyment of working with people, developing long-term relationships and delivering on the promise of great service. Carlos and Linda Debello offer property investor's the confidence to sell and lease in any market. We provide comprehensive market appraisals, exclusive multimedia marketing campaigns, and knowledgeable, highly personalized counsel on all aspects of real estate. Our Property Management Team is equally considerate, offering investors with in-depth advise, well-researched rental valuations, and highly professional rental management services. http://goanimate.com/movie/0M4bvcZzgIbI?utm_source=linkshare&uid=0u6RGtWsmlVc Carlos’ direct mobiles are 0400 833 800 & 0413560808. Linda’s mobiles are 0409995578 & 0414978700 (prefer email contact for Linda). Office 07 3263 6085. http://www.ljgrealestate.com.au http://www.yellowpages.com.au/qld/aspley/lj-gilland-real-estate-pty-ltd-14091356-listing.html http://au.linkedin.com/in/lindajanedebello http://twitter.com/GillandDebello http://www.facebook.com/pages/ljgrealestate
This entry was posted in HOME, LANDLORDS, LJ Gilland Real Estate Pty Ltd, ljgrealestate, Property Investment, Property Law, Property Management & Sales, QUEENSLAND and tagged . Bookmark the permalink.

1 Response to Property enthusiasm starting to wane, says report

  1. Reblogged this on LJ Gilland房地产 http://ljgrealestate.com.au/testimonials/ and commented:

    Overall sentiment among buyers and sellers dropped over the last three months from the record high achieved in the first quarter of 2021. First-home buyers reported the lowest level of positive sentiment while investors recorded the highest.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s