Aussies resolve to buy property in New Year

by Adam Smith30 Dec 2015
A new survey has revealed buying property is near the top of the list for New Year’s resolutions heading into 2016.

The realestate.com.au New Year’s resolution survey found saving for an investment property and selling to upgrade to a bigger home were the two most common property resolutions for the New Year, News Ltd has reported.

Around 46% of respondents said they had started saving a deposit to buy a property. But good intentions didn’t always equate to action, with the survey revealing 15% had ended up spending their deposit on something else.

Victorians were the most motivated to save for a residential investment property, with 19% tipping it as their top New Year’s resolution. Tasmanians, meanwhile, were the most eager to upgrade in 2016.

Realestate.com.au executive general manager Andrew Rechtman told News Ltd that the slowdown in property transactions over the holiday period didn’t mean property was out of mind for many Australians.

“While people can often take time out from transacting in property over the Christmas and January period, lots of people use the time to take stock, reset their goals and get organised for when the property market picks up again around Australia Day,” he said.

COMMENTS

  • by Ken 30/12/2015 6:58:46 AM

    ALL AUSTRALIANS should be encouraged to buy property. It used to be a natural part of the average Australians life BUT Gov't taxes put a stop to that. Saving for years to get a deposit then seeing the WHOLE LOT go on FEES would be so depressing that it is quite understandable why Australians have foregone home ownership. OUR (?) Gov't has a lot to be made accountable for.