Australians reluctant on investment properties
Fewer Australians appear prepared to direct their money towards investment properties, according to new data released by real estate company Ray White Group.
According to the development division of Ray White Group, Ray White Projects, only 11 per cent of Australian adults have an investment property and a further three per cent have two or more investment properties.
Commenting on the data, Ray White Projects director Dan White said a recent survey of the influencing factors had highlighted the impact of media reporting and community sentiment on purchasing decisions.
"It's hard to believe 86 percent of Australian adults do not have an investment property," he said.
"It's an anomaly that contradicts the commonly held perception that bricks and mortar are one of the safest forms of future planning."
White claimed the survey showed respondents needed a change in sentiment in order to purchase.
"There is much talk about the reasons why people do not buy an investment property. Our survey regarding what would encourage people to buy an investment property in the next 18 months showed that 59 per cent of respondents wanted to see either a growth in property prices or greater stability before making a decision," he said.
White said that, of that percentage, just under half identified that they wanted an increase in property values and more than half wanted market stability.
"Surprisingly, almost one quarter of all respondents said that better education about how to invest would make a difference," he said.
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