PHOTO: Investor confidence has bounced back after almost two years of fear, as prices rise in Sydney and Melbourne.
When property markets in Sydney and Melbourne began to look shaky in mid-2017, investors were among the first to run for the hills.
And for almost two years since the end of the last price boom in Australia’s two biggest cities, they’ve stayed away.
However, the outcome of the federal election — which killed off Labor’s negative gearing and capital gains tax policies — has given would-be real estate investors some renewed confidence.
Peter Koulizos, the chairman of lobby group Property Investment Professionals of Australia, said there had been a surge in buyer sentiment in recent months, with corresponding price increases in Sydney and Melbourne.
The organisation has just released the results of a survey of its full membership, which found that 82 per cent of investors view now as a good time to buy residential property.
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