Buyer confidence drops, but still a good time to buy

Home buyer confidence has dipped 1.5 per cent since September 2010, according to the Genworth Home buyer Confidence Index.

This fall, despite Australia’s relatively strong economic performance, was driven by the decreased confidence in the natural disaster affected regions of Queensland and Western Australia coupled with growing concern amongst Australian home buyers about the rising cost of living.

Queensland home buyers suffered the biggest drop in confidence, with one in three of the state’s respondents stating that they were impacted by the natural flood disaster in some way.

Of those affected by the disaster, one in five said it would take them more than six months to get back on their feet.

I believe despite the overall drop in confidence, it seems as though 2011 is a good time to buy property



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