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Australian investors continuing their love affair with property, says expert

Australians with money to spend are still looking towards property over all other options, expert says.
Those in Australia who have money to spend are still turning to property to look for strong returns, more so than their counterparts across the world, a new study has found.

Legg Mason Global Investment Survey 2014 looked at the way people allocate their investments around the globe, focussing on some 4,200 different investors in a range of countries.

In Australia, investors will spend 27 per cent of their overall investments on buying properties. This is a full ten percentage points higher than the global average, the survey found.

This shows that people are still confident that they will be able to make money in the long run out of property purchases, despite the fact that prices are seemingly always on the rise, and even though many are worried about the prospects of a property bubble.

Legg Mason’s global head of distribution marketing, Matt Schiffman, said: “Australians have a well-documented love affair with property, but current low average yields in this sector are affecting income opportunities for investors."

Posted by Craig Francis

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