Most investors aren’t concerned with the state of the market, with many believing that the worst of the price falls in Sydney and Melbourne have already happened, a new report has found.
ME’s Household Financial Comfort Report reports 86% expect to see values rise or stay the same, with 18% expecting prices to rise a lot, 34% predicting they’ll rise a little and 34% believing they won’t change.
Similar trends were noticed when looking specifically at Sydney and Melbourne: 85% and 90% of investors respectively believe values will not decline in the year ahead.
ME’s consulting economist Jeff Oughton says the general sentiment is that the worst has come and gone – and most are waiting to ride out the current correction.
The Household Financial Comfort report – a survey of how people perceived their finances – finds that the proportion of Australians feeling secure has risen. The 15th biannual report found income gains, easing living costs and increased savings were key drivers in households’ feeling more comfortable.