Australians keen to invest in property market

By www.mortgagebusiness.com.au, 17 November 2009

More than 70 per cent of Australians over the age of 25 believe the time is ripe for property investment.

According to Citibank’s Australian wealth survey, 74 per cent think now is a good time to invest in property, while 40 per cent believe it is a bad time to invest in shares.

Citibank’s Andrew de Graaff said Australians were beginning to see property as relatively risk free.

“While a lot of people are saying now is a good time to buy and invest, it is another thing to actually do it,” he said.

Australia's property prices have held relatively firm while overseas markets, particularly in the US and Britain, plunged.