2010 Momentum Wealth national property survey results released
The results from Momentum Wealth’s 2010 national Property Investors Survey have been released. More than 450 responses were received and key findings are outlined below:
- Confidence in property as a secure long-term investment fell by only half a per cent to 98.6%. This is despite continuous effects from the Global Financial Crisis in the 12 months since our last survey.
- 80% believe we will see growth in the property market over the next year, while less than 8% are concerned that we will see a decline.
- The future of interest rates drew varying opinions. More than 79% believed interest rates will rise over the next 12 months, while 15.4% believe they will stay the same. Despite this, almost 85% of respondents believe that now is not a good time to fix their interest rates.
- Interest rates have not affected the property investment plans of 59% of respondents, with an additional 29.6% intending to purchase more properties as a result of current interest rates.
- The outlook for investment is positive. More than 70% said the current property market held plenty of opportunities and believed now is a great time to buy, with 55% of respondents actively planning to purchase an investment property within the next 12 months.
Damian Collins, Managing Director of Momentum Wealth, said the survey responses didn’t come as a surprise.
“Property has long been popular with investors as a reliable, tangible and consistent investment,” he said.
“Post GFC, the lenders appear to be relaxing some of their policies, providing opportunities for investors who are not afraid to go against the herd to take advantage of some outstanding buying opportunities.”