According to a new survey by PIPA, investors are shown to be more positive about the property market compared to the same time last year. The nationwide annual survey, which collected data from 1,200 property investors, also showed that the proposed changes in negative gearing by Labor and Capital Gains tax legislation had a strong influence on how three-quarters of investors voted in the May Federal Election.
“It’s clear that
many investors, regardless of their political leanings, were fed up
with being told they were ‘greedy’ when the vast majority own
only one property and are just trying to improve their financial
futures,” PIPA Chairman Peter Koulizos says.
Koulizos says
investors suggested by the survey were willing to look outside the
major banks to secure investment finance. “Difficulty obtaining
finance, as well as the popularity of banks being on the slide over
the past year, means that about 60% of investors are now more likely
to consider a non-major bank lender, especially after the outcomes of
Banking Royal Commission,” he says.
The survey found that in the past year 27 percent of investors received a loan from a non-major bank lender, the top two factors being lower interest rates and increased lending capacity. Also demonstrated in this year's survey was the need for better professional standards and property investment advice industry regulation.
88 percent of
investors continue to believe that more education is needed around
the risks and benefits of investing in property, plus virtually all
93 percent of respondents believe that any provider of advice should
have formal training. “Property investors again are asking for more
rigorous standards in the real estate investment advice sector, yet,
it remains stubbornly unregulated,” Mr. Koulizos said.
Originally Published Here: Property Investor Confidence Surges
