Most Australians continue to see real estate to be a safe place to invest. According to Mortgage Choice’s 2016 Money Survey, only a third of Australians believe global economic upheaval has negatively impacted the safety of property as an investment class.
“When the respondents were specifically asked what they would invest their money in, 39% said property – higher than 35% who would put their money in a high interest savings account,” Mortgage Choice chief executive officer John Flavell says. “This data clearly suggests that many Australians see property as a safe bet.”
Flavell says recent lending figure reinforce the idea of people’s positive view of property. “Across the combined capital cities, property prices have risen 6.4% over the 12 months to April 2016. While this level of growth is down from previous years, it is still quite robust,” he says.
“The latest ABS data shows 56,562 home loans were approved in February 2016, up 1.5% from the month prior, with $32 billion in home loans approved in February. This reinforces the idea that the property market – for the most part – remains alive and well.”