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Consumer confidence rising

Consumer confidence rising

An RP Data survey found that consumers expect house prices to stay the same or rise in the next six months.

Buyers of Australian property are feeling confident about the market.

RP Data’s housing market sentiment survey has shown that over 90 per cent of respondents expect house prices to either rise or remain stable over the next six months. The survey was administered by Nine Rewards and responded to by 1,040 people.

It showed that 37.9 per cent of respondents think that property prices will rise in the next six month while 54 per cent expected them to remain stable.

Results from this survey show that consumer confidence is increasing. It was last conducted in October, when 32.8 per cent of those surveyed predicted a rise in prices and 52.5 per cent said that they would stay the same.  Head of RP Data research and analytics, Tim Lawless, said: “The results were stronger than I expected.”

Recently, the housing market has been showing positive signs.

In February, RP Data found that house prices across capital cities nationwide had risen by 0.3 per cent.

All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

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