Investors sense the bottom of the market

A survey of investors by PRDnationwide has found that almost 90 per cent intend to purchase property in the next two years. The majority are looking for a property priced between $300,000 and $450,000 which achieves a rental return of 4 to 5 per cent p.a. with long term capital growth prospects.

PRDnationwide national director Jim Midgley said the results were indicative of the rise in consumer confidence. “Considering the poor sentiment towards property within the past eight months – these results are promising that investors think we have reached the bottom of the market,” he said.

Source: Mortgage Business