Investors ignore financial hurdles
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Investors ignore financial hurdles
Posted on Thursday, October 29 2015 at 9:42 AM
A survey by the industry group Property Investment Professionals of Australia (PIPA) reveals investors have not been put off by new lending restrictions.
The PIPA 2015 Property Investor Sentiment Survey questioned more than 1,000 property investors, with 32 per cent saying tighter lending policies, introduced by the Australian Prudential Regulation Authority, have affected them.
Despite this, 63 per cent of respondents believe now is a good time to invest in property while 60 per cent are looking to purchase a property in the next six to 12 months.
In addition, only 20 per cent of respondents say concerns over a property bubble have put their investment plans on hold.
Ben Kingsley, chairperson at PIPA, says the outcome confirms investors are both sophisticated and buying for the long haul.
“Property investors are looking past the noise and remaining focused on the long-term investment rewards that well-selected property can deliver.
“Kingsley says beyond much-hyped Sydney real estate, there are affordable capital city markets full of opportunities.
“And with interest rates still low by historical standards, it’s still a good time to invest in the housing market, if you’re doing your due diligence and seeking advice from professionals.
“According to PIPA’s survey, an overwhelming majority of investors (74 per cent) consider metropolitan markets the most appealing place to buy right now, with Brisbane identified by 58 per cent as being the capital that offers the best investment prospects.
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