Housing sentiment return to pre-COVID-19 levels: property report

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Good news for operators waiting for future residents to sell the family home.

38% of Australians in the property market feel “positive” about it, just 4% below the October 2019 level, according to the latest ME Quarterly Property Sentiment Report.

Positive sentiment had fallen to 29% in April at the peak of COVID, when most of the country was under lockdown restrictions.

“More people are predicting house prices to increase and we’re seeing people’s perceptions of housing affordability have improved as well,” ME’s head of home loans Andrew Bartolo said.

“Those things together say to me, overall, we know Aussies love property, and once they have confidence that the economic fundamentals are coming back to life, they still see property as a good investment and something Australians aspire to.”

Sydney in particular has surged with 42% of residents surveyed in October saying they feel positive about the market, up from 29% in June.

The report also shows many home-owner-related concerns have declined since earlier in the year.

Only 49% were now worried about the value of their property falling, down from 64% in April, while the number of people worried about paying back their home loan once deferrals end fell slightly from 31% in June to 29% in October.

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Lauren is the Editor at DCM Group and has guided its range of media including The Weekly SOURCE, The Daily RESOURCE and The Donaldson Sisters since 2016. With 13 years’ experience as a journalist, editor and commentator, Lauren is the only journalist to have attended every session of the Royal Commission into Aged Care Quality and Safety, producing 300 issues of the subscriber-only The Daily COMMISSION which offers exclusive insights and analysis of the issues surrounding the Royal Commission and the aged care sector.