Property owners are still confident in the value of real estate with a new survey revealing most believe values will increase this year.

The LocalAgentFinder Real Estate Sentiment Report surveyed 1003 property owners with 81% saying they expect property prices to increase this year with almost 60% predicting an increase of more than 10%.

LocalAgentFinder chief executive Richard Stevens says the survey shows Australians were still quite bullish about the market’s prospects in the short term. The survey also found Covid is still affecting people’s buying decisions with 27% revealing they had considered moving because of Covid’s impact on their lifestyle.

It also found those who had already moved to coastal areas are happier than those who moved inland.

“This confidence is likely generated from the remarkable resilience of the property market through the pandemic and many may feel that this is likely to continue with the easing of restrictions as Australia opens back up,” Stevens says.