Property a Priority in 2013 as Confidence Lifts

A comprehensive survey of homebuyer sentiment shows the majority of respondents are more confident about stepping on the property ladder in 2013.

The probe by property listing site www.realestate.com.au confirms increasing saving activity and paying down mortgage debt is a top priority for the almost 4500 respondents.

However visitors to the website also reported feeling confident about the housing market despite their money conscious outlooks, according to Arthur Charlaftis from realestate.com.au.

“The results of our survey shows that 62 per cent of 18 to 24-year-old respondents plan to save for a deposit for their first home and enter the market for the first time this year,” Charlaftis says.

In addition, nearly one- third of respondents want to sell their home in 2013 and upgrade to something bigger.

The survey also indicates 75 per cent of people feel secure in their jobs, Charlaftis.

“There’s definitely a growing sense of confidence about the property market in the year ahead.”

The study was conducted in December 2012 and the results parallel a rise in the Roy Stanley Consumer Confidence Rating of 3.1 per cent, which reflected a 12-month high for the index.

While participants in the realestate.com.au survey were looking to improve their savings position, more than half still plan on taking holidays this year.

Similarly, 83 per cent have no plans to scale back their social lives in 2013.

Reported by Australian Property Investor – January 2013