Lower interest rates are finally awakening buyers, with the majority looking to invest in property over the coming 12 months.
A Loan Market poll has found 88% of respondents intended to invest in property within the next 12 months. Fifty-one per cent said they were looking seriously at property, while 37% said they were interested, but wanted to ensure their employment was secure.
Only 5% of the survey's respondents said they had no plans to invest in property, while 7% said they would sooner invest in shares.
A Loan Market spokesperson said consumer confidence was finally receiving a boost after successive RBA cuts.
"These rate cuts have also taken the variable interest rates offered by most lenders down below the 6.0 per cent mark. Homeowners are seeing significant reductions in their mortgage repayments while there are very competitive rates on offer for those looking to enter the property market," he said.
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