A majority of survey respondents think it’s a good time to buy property despite rising capital city home values over the past three years according to the CoreLogic RP Data Nine Rewards Consumer sentiment survey, released today.

Over the June 2015 quarter, 60 per cent of respondents agreed that now was a good time to buy a property or home, though this proportion fell from 71 per cent of respondents at the same time a year ago, and is down from 80 per cent over the second quarter of 2013.

“With the current growth period having run for so long it isn’t a surprise to see a fall in the proportion of respondents who think now’s a good time to buy, particularly in the hottest market – Sydney.”

The regions where survey respondents were most optimistic about buying conditions were in Tasmania, regional South Australia, Brisbane and in regional Queensland.

This comes as no surprise to Lawless, who says these regions are yet to see a substantial run up in prices. 

Sixty-five per cent of respondents thought it was a good time to sell; the highest reading in the history of the survey, which began in the first quarter of 2013.

Sydney and Melbourne-based respondents were the most optimistic about selling conditions. Given the strength of the housing market in these cities.

“Perceptions around selling conditions in the Northern Territory and Perth, where property values are now in decline and listing numbers are rising, were more subdued,” Lawless says.

The survey also asked respondents about their expectations for capital growth over the next six and 12 months. Forty-eight per cent of respondents expect home prices to rise over the next six months, while 45 per cent are expecting prices to rise over the next 12 months. Only 14 per cent of respondents expect prices to fall over the coming year.

Respondents in Tasmania were the most optimistic about the likelihood of capital growth for their state, with 60 per cent expecting prices to rise over the coming year. 

Lawless believes this result confirms an improvement in local sentiment across Tasmania, where the market’s previously recorded weak conditions but has recently started to show some capital gain.

Sydney and Melbourne also saw more than half the respondents indicating that they expected further growth in property prices over the next 12 months.

Across the country, respondents from regional Western Australia were the most pessimistic about local housing market conditions, with only 14 per cent of respondents indicating they expect prices to rise over the next 12 months.

Lawless says: “With attitudes around future capital growth broadly still strong, it’s interesting to note that when respondents were asked whether Australia’s housing market was vulnerable to a significant correction, three quarters of respondents felt that it was. This was the highest reading we’ve received for this question, which suggests that despite a perception that prices will still rise, more Australians are becoming concerned about a correction in the housing market. 

“Respondents based in regional Western Australia, the Northern Territory and Sydney were the most wary about the market’s vulnerability, with 86 per cent, 80 per cent and 79 per cent of respondents respectively indicating they were concerned values could fall significantly.”

Source：http://www.apimagazine.com.au/api-online/news/2015/07/most-still-feel-nows-a-good-time-to-buy