Property a priority for 2013

Saving money and putting more on the mortgage emerged as two of this years hottest New Year resolutions.
According to their New Years’ Resolution Survey, nearly 60% of Australian respondents are looking to purchase a residential property in 2013, nearly a third of respondents or 28% are planning to sell their property and upgrade to something bigger.
The research shows that 75% of people feel secure in their jobs, and that high priorities for 2013 include putting more money on the mortgage and building personal savings.
General Manager Sales and Operations, Arthur Charlaftis from realestate.com.au says that the results of his organizations survey indicate people are confident about the property market.
“Property is still an important priority for Australians. The results of our survey show that 62% of 18-24 year-old respondents plan to save the deposit for their first home and enter the property market for the first time this year.”
Locally almost 50% of homes are fully owned in the Liverpool Plains Shire Area. Almost 24% are in the process of being purchased or under mortgage, and the remainder are rented.
Local industry expert Julie Green of Julie Green Real Estate in Quirindi says sales at her office over the past 12 months indicate a strong presence in the investor market.
“We have had a large number of sales in the lower end of the market involving investment properties for rental return, in fact we’ve had so many we’re currently looking for more listings. However, with global conditions improving and a rising share market, sales momentum is picking up in the mid to high end. Overall, confidence in the national economy is strengthening and people are starting to buy into the market or are looking to upgrade their home,” Julie said.
While the New Years’ Resolution survey respondents might be planning to increase their savings throughout the year, they will not be cutting back in certain areas with more than half planning to take off on a well deserved holiday this year. 83% of respondents indicated they have no plans to slow down their social lives.
Australians’ interest in technology and gadgets also continued to grow with 35% of survey respondents hoping to upgrade their current mobile devices in 2013 and 72% of individuals indicating that they will not be slowing down their use of social media.
Traditional new years’ resolutions still rank highly on the priority list, with more than 60% of respondents committing to lose weight and more than half planning to volunteer their time to a good cause.

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