Australians will still invest in property in their home country regardless of any interest rate increases that they may face, an independent market analyst has suggested.
Datamonitor's latest report reveals that eight per cent of Australians intend to purchase an investment property within the next year.
On top of this, seven per cent of people said they plan to buy their first home over the same period.
"The residential property market weathered the storm of the financial crisis without a major price correction, contributing to the current strong consumer confidence," explained Petter Ingemarsson, financial services analyst at Datamonitor.
This year, just 20 per cent of those surveyed regarded falling property prices as very likely or quite likely, compared to 58 per cent of those quizzed in the 2009 survey.
Earlier this month, the Real Estate Institute of Australia welcomed the Reserve Bank of Australia's decision to leave official interest rates as they are for the time being.
Posted by Craig Francis
