Uncertainty to influence property market: survey

RESEARCH by property consultants Stanton Hillier Parker has shown that more than half of people surveyed and involved in the property industry believe GST uncertainty will have a major influence on the property market.

About 45 per cent of the 60 people surveyed believed interest rates would be the driving force while 6 per cent said inflation would be the largest influence.

The performance of the Australian Stock Exchange was considered to be an indicator of the levels of property investment.

Other factors reported were business failure, property price, the growth and underlying levels of national economic activity.

Despite the sentiment on the GST and interest rates, 53 per cent of respondents reported their intent to invest in the property market in the next 12 months.

Stanton Hillier Parker managing director Geoff Potter said, as with the New Zealand experience, there could be a slowdown for a few months as people gradually adjusted to the changes to Australia’s tax system.

“A good time to buy is right now as there are some terrific opportunities as interest rates are still at a low point,” Mr Porter said.

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