One in three property investors worried about rising bills
The increasing cost of living is plaguing many property investors.
The Mortgage Choice annual Investor Survey has found that nearly one in three Australian property investors flag the rising cost of living as their biggest concern over the coming year.
“I am not surprised to hear that so many property investors are worried about the cost of living. Everyday expenses such as gas, electricity, childcare and transportation continue to rise every year, which is bound to negatively impact the hip pocket of all Australians, including property investors,” Mortgage Choice chief executive John Flavell said.
Flavell said stagnant wage growth compounded the problem and pointed to figures from the Australian Bureau of Statistics showing wages grew just 1.9% over the 12 months to June 2017.
The survey also found that one in five investors were worried about their job security, while 15% were concerned about potential interest rate hikes.
“Perhaps most surprisingly, our data found one in four investors were actually concerned about rising property prices. This would suggest property investors are constantly looking to expand their portfolio of assets and, as such, don’t want property to become so expensive that it is out of reach,” Flavell said.
- House deposit drain: How long it takes to save in Australia’s priciest suburbs
- Not now: Just 35% think it’s a good time to buy property
- The key to investing in property during lockdown
- Home stretch: 1 in 3 Aussies would move if they could work from anywhere
- How much less can you borrow under new APRA home loan rules?