Rising prices have not put buyers off in 2022, but many are rethinking where they will buy.
The Buyer Barometer survey by Real Estate Buyers Agents Association (REBAA) and Property Talk Australia (PTA) reveals homebuyers and investors are optimistic. REBAA president Cate Bakos says the study highlights the “sheer resilience” of the market.
“When it comes to a fear of missing out, buyers are evenly split with 48% afraid they’ll miss the boat in 2022 but an optimistic 52% believing they can still get a foot on the property ladder,” she says.
The results show investors will be more dominant in 2022, with 49% planning to buy an investment, compared with 43% last year.
Chris Dimitropoulos of PTA says Australians feel safe and are willing to pay a bit more because they feel conditions aren’t going to change.
Many investors phasing out of Sydney and Melbourne. “They’re buying something interstate or regionally around $500,000 and renting it for $400-450 a week.”