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Property buyer confidence starts to rebound

By Brett Pilgrim

Having a positive perception of your own finances can have all sorts of advantages. Not only does it make you feel more optimistic about what the future has in store, but is also likely to give you the confidence to make big-ticket purchases.

This includes property, so the latest confidence results suggest that the coming months might see a rise in demand for real estate in Prospect.

During the week to 28 July, the ANZ-Roy Morgan Consumer Confidence Index increased 0.6 per cent. This was due to a number of reasons, and not least the fact that people are generally more hopeful about the future of their finances.

A week earlier, the index increased 4.5 per cent, suggesting that a longer term trend may be starting to emerge. Consumers' perceptions of their finances now and in 12 months' time helped drive the results, offsetting some of the concerns about conditions in the Australian economy.

"The minutes from the July Reserve Bank of Australia meeting pointed out that more positive views on personal finances likely reflect low interest rates and high household wealth," commented ANZ chief economist Warren Hogan.

There is also positivity in the wider property market at the moment, as identified by the ANZ/Property Council Survey. It registered a reading of 131 during the September quarter, a result that remained unchanged from the previous three-month period.

South Australia witnessed some of the country's strongest growth quarter-on-quarter, rising from 110 to 120 over the period in question, which bodes well for the future of real estate in Prospect and other parts of the state.

If you're in the market for buying property, make sure you give us a call. Ray White Adelaide has an excellent reputation and plenty of experience pairing people with their ideal homes.

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