Renting vs Buying

Whether you’re looking to buy or rent a property, research shows there’s a common feeling from those scouring the property market that there’s high demand for a limited number of properties available. We feel it as a crunch.

Buying is competitive

Australian’s still crave a home of their own, with plenty of people currently looking to buy a house.

Our latest research shows that 43.1% of those currently searching the Australian property market to buy a property say that the market is too competitive.

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New South Wales and Victoria emerge as the most competitive – at least perceptively – with 58.9% and 43.9% of buyers in those states respectively saying it’s tough going. Auctions are a popular choice of property sale in those regions, which may be adding to the competitive stakes.

But renting is even more so

Renter’s certainly don’t think they have an easier task.

When asked, 57% of renters said there were too many people looking for similar properties in their area, with almost 60% of New South Wales dwellers saying there is too much competition.

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Data source: Newspoll Market & Social Research conducted an independent telephone survey of 300 Australians, aged 25-44, across a full national sample in 2013. Data was collected in line with ISO 20252 – Market, Social and Opinion Research and has been weighted with current ABS population demographics to ensure any extrapolation of results is representative of age, gender and area.

NB: Article has been provided by - http://www.realestate.com.au/blog/competitive-market-buying-and-selling/