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By: Staff Reporter
More than two thirds of Australians are keen to reinvest in the property market.
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According to a new poll by PRDnationwide, 61 per cent of Australians would access equity in their property to fund another investment, while 23 per cent said they would use equity to complete renovations.
PRDnationwide research director Aaron Maskrey said investors were feeling more wealthy and prosperous since the global financial crisis has passed.
“According to the Australian Bureau of Statistics, the total spend on housing financial commitments compared to the previous year, has increased by 10.1 per cent from $19.2 billion,” Mr Maskrey said.
“Investors have strengthened with $6.4 billion being committed in January, the highest amount of investor commitment since February 2008. Investors now account for 30.4 per cent of the total housing finance commitments,” he said.
“With a current nationwide shortage of homes putting upward pressure on prices once again – the idea of accessing equity is becoming more popular.”
