Property is a better investment option than shares, gold, super or cash in the current environment, according to a survey by comparison website Finder.
Finder’s latest RBA Cash Rate Survey found 32% of analysts and economists rated property as the best investment option, followed by shares at 21%, gold 14%, superannuation 11% and cash 7%.
All of the respondents expected a cash rate hold in August, though most (72%) forecast a rate increase in 2021 or 2022. Finder noted that a “surprisingly high” percentage (42%) of those surveyed believed now was a good time for home-owners to put their property on the market; only 25% said homeowners should wait.
“This environment has also pushed interest rates lower than ever,” said Finder insights manage, Graham Cooke. “We’ve just seen the first sub-2% loan hit the market, and that could be a sign of things to come.”
With many investors avoiding the market, banks are eager for new business, especially for owner-occupier customers. It’s the ultimate borrower’s market, he says.