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Most Aussies believe now is a good time to buy property, but are they right?

PHOTO: Aussies are more confident in buying real estate than they were pre-pandemic. Photo: Dion Georgopoulos

Two-thirds of Australians believe it is a good time to buy property, the highest figure since mid-2019, according to a new survey.

Many people have quickly shrugged off doubts about the property market, and are more confident in buying real estate than they were pre-pandemic, the national survey of more than 23,000 people, conducted each month by comparison platform Finder, found.

In April, as Australia was in lockdown and braced for what was expected to be the worst recession since the Great Depression, just 42 per cent of respondents thought it was a good time to buy real estate.

Finder’s international insights manager Graham Cooke said the public’s perception of the security of the housing market took a huge hit as soon as COVID-19 arrived in Australian.

“No one knew how deep this hole was going to be and its impact on the economy,” he said.

“But it was pretty quickly alleviated and now people are more enthusiastic about buying property than before [the pandemic].”

Do you believe now is a good time to buy property?
The share of people surveyed who think it is a good time to buy property rose after the economy emerged from April’s national lockdown. Photo: Finder survey

The survey also found those who expect property values to “somewhat increase” is up to 44 per cent, from lows of 18 per cent in April.

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