The latest research into the property market has shown professional practitioners are very positive about the outlook and overall business conditions for the sector for 2017.
The Property Investment Professionals of Australia (PIPA) Member Survey revealed 54 per cent of property professionals are very optimistic about 2017 business conditions, with a further 43 per cent saying they are optimistic.
“It is encouraging to see property professionals so confident about the outlook for their businesses and this sector more broadly,” PIPA chair Ben Kingsley said.
“These results are testament to the increasing professionalism of the property investment industry and the diversified businesses our members are building, ensuring they can navigate various market cycles.”
The research also identified the tightening of investor lending and rising interest rates as the biggest concerns for the market.
Kingsley used the publishing of the survey results to suggest better methods to make property investing more robust.
“The government and industry regulators should be addressing the need for comprehensive regulation of property investment advice,” he said.
“Introducing a minimum standard of education or qualification for those providing property investment advice would ensure that Australian investors can receive the same level of appropriate guidance provided to anyone investing in other asset classes.
“Well-selected property remains a compelling long-term investment. Ensuring investors make well-informed, smart decisions and that they are well protected from dodgy operators would go a long way towards reducing the number of ill-fated property investment stories and buttressing the market.”
The study was drawn from the opinions of PIPA members, including advisers, mortgage brokers and buyers’ agents.