One of the best property investment tips is for potential investors to keep up with current data and news from the market. The latest ANZ/Property Council survey for the June 2016 Quarter, for example, has revealed interesting results about the sector. Despite the media suggesting that the market is in for a correction this year, the survey reveals that the market is remaining steady and will, in some cases, post modest gains.
The survey looks at industry confidence, as well as current sentiment in the property market from among a mix of 1700 respondents, including real estate agents, owners, property managers, consultants and government agencies. Overall, the rollercoaster of the past few years within the sector looks to have stabilised, and economic conditions are looking healthy for both Australia and on a global scale in the coming year.
The labour market in particular has seen an improvement, with the unemployment rate at its lowest level in almost three years. Housing confidence is greatly dependent on these factors, and with the upcoming budget and the possibility of an election only months away, all indications point to a good year to either consider dipping your toe into property investment or building on an already established portfolio for experienced investors.
Survey results were as follows:
- Market activity is surprisingly buoyant, considering last year’s soft ending and the anticipation for a correction this year. Prices for houses are seeing some gains, and auction clearance rates have remained steady at around 70% in Sydney and Melbourne.
- House prices in Sydney are expected to remain relatively unchanged over the course of the year, while the other capitals including Brisbane, Adelaide and Melbourne should all see moderate increases.
- Around 40% of respondents expected housing construction to increase this year, as opposed to almost 70% of those surveyed last year.
- Lending conditions were also expected to be tightened, with the majority of survey participants leaning towards a lifting of interest rates during 2016.
This timely survey highlights why anyone looking at the property market, and particularly those looking for property investment tips, should be reviewing data and analysis from within the property sector, rather than relying on often speculative and sometimes sensationalist second hand media reports.
Anyone looking for assistance with understanding the property market and the right conditions for investing should consider attending one of Ironfish’s popular property investment seminars. These are held in convenient locations in capital cities all across Australia, and are designed to not only give you access to some of the country’s most experienced property experts and investors, but also help you decipher the most up to date property research and data. Ironfish are focused on providing guidance on all aspects of property investment, from creating strategic property investment plans, finding the right kind of property opportunities and helping you build a successful portfolio to secure your future wealth.