The Real Estate Market in Australia shows good promise. A New Survey says now is the right time to buy real estate properties in Australia.
Perth Now reports that the CoreLogic RP Data Nine Rewards Consumer sentiment survey proves that 60% of the respondents from the survey conducted said that now is the right time to acquire real estate properties in Australia, despite the overall rising capital city home values.
According to the report, the experts would agree with the common sentiment. The situation is especially noted in Perth wherein there are only below "14,000 properties for sale and where values overall have been slowly panning out or retreating after their stellar rise during the boom."
A surplus of stock plus more real estate development projects are about to start, the buyers are said to be "spoilt for choice."
When CoreLogic RP Data research director Tim Lawless has been interviewed, he said that he found it interesting to reflect on the answer of the respondents, "When respondents were asked if Australia's housing market was vulnerable to a significant correction, three-quarters of respondents felt it was." Despite all things considered- like attitudes towards future capital growth still broadly strong.
"This was the highest reading we've received for this question, which suggests that despite a perception prices will still rise, more Australians are becoming concerned about a correction in the housing market," Mr Lawless shared.
Among other respondents of the said survey, those from Regional WA were mainly wary concerning the market's vulnerability- data shows that there are 86 per cent. This means that the respondents were anxious that the "values could fall significantly."
As for the perception of foreign investors that are eager to purchase real estate properties in Australia, 73% responded that "foreign buyers were making it more difficult for those living in Australia to own their home."
On a different note, In Melbourne- the concern is somehow different as to the real estate properties in Australia. A new firm has just launched called the Estate Baron. It is an equity crowdfunding platform which allows people "to invest directly in Melbourne property developments with as little as $2,000."
The Estate Baron would pave the way for investors to tie up with real estate developers directly. The people would have a direct access to and institutional quality development opportunities. People who want to invest no longer need real estate agents, salespeople, or brokers as they can "choose to invest in projects based on the anticipated return, time frame, location, developer and other criteria."
The Melbourne's Estate Baron is co-founded by Moresh Kokane. Kokane is an engineer but for over a decade he has been working in the finance and tech industries. "Crowdfunding will change the way Australians buy and fund property. I've followed the rise of crowdfunding sites such as Realty Mogul and Fundrise in the US, and Australia is ripe for this sort of disruption in property finance," Kokane said.