The Property Investment Professionals of Australia (PIPA) joined forces with the Property Investors Council of Australia (PICA) to conduct a short investor survey in mid-May, which attracted 1877 responses from across the nation.
The survey found that 72 per cent of investors were confident about the market’s short-term prospects – down only 10 percentage points from the investor sentiment survey conducted in September last year.
The survey results also found that the coronavirus crisis had not changed the investment intentions of 80 per cent of investors over the next six or 12 months.
The survey showed that investors were overwhelmingly optimistic about the property market over the next year.
Nearly 60 per cent of respondents indicated that the pandemic had not made them change their investment plans over the next six months, with a further 18 per cent saying the crisis had actually made it more likely they would purchase a property over that timeframe.
The survey results also showed about 30 per cent of investors were more likely to buy a property in the next six to 12 months because of the pandemic.
While the survey found that 36 per cent of investors had experienced a loss of income, outside of rent, during the pandemic, the vast majority, at 91 per cent, had not applied to pause their mortgage repayments.
Only a small percentage of respondents, or five per cent, indicated the crisis had made it more likely that they would sell a property over the next six to 12 months.
Most investors also indicated that they had the financial buffers to see them through the current economic uncertainty.
It’s clear that record low interest rates as well as the resilient nature of property during turbulent times are inspiring investors to continue with their plans.
The survey results are available here: