More Australians wish on a falling house price
In a study of 1500 Australian adults by ME Bank, 43 per cent of respondents said they were reliant on future house prices to achieve future life and financial goals, with ten per cent rating themselves as "completely reliant".But it's a tug-of-war as to which way we want prices to go, observes ME, which ran the survey this month polling 1500 Australians. The split was even: 38 per cent want prices to increase while 37 per cent want them to fall.Vested self-interest is fairly evident - that is, property ownership status determines viewpoints: 39 per cent of those who own the home they live in and 47 per cent who own an investment property indicated they are 'reliant' on future prices, presumably increasing, while 48 per cent of those who don't own a property also say they are reliant, presumably wanting prices to fall (and presumably only down far enough so they can buy into the market, then back on the property elevator).When asked why they want prices to fall, the overwhelming reason given was to help address the housing affordability issue (57 per cent), a sentiment expressed by 97 per cent of those with property.The bulk of those wanting house prices to continue rising are property owners: 49 per cent of home owners and 55 per cent of investors.