Buyers are returning to the property market in force, according to API Magazine’s Property Sentiment Report Q3 2024.

The survey of investors and industry professionals shows sentiment has switched and the proportion of respondents opting to sit out or “wait and see” has dropped sharply over three successive quarters.

Those choosing not to transact have dropped to 22%, down from 39% in Q4, 2023.
The report says 29% of respondents are planning to buy in the coming 12 months, although the number planning to build has dropped from more than 10% at the end of 2023 to 6.8% per cent in the latest quarter.

In the past quarter, there has been a marked shift towards the traditional investment vehicles of houses, units and apartments, with a corresponding drop off in the proportion of buyers looking to buy alternative property assets. Overall, respondents say that they believe property prices will continue to rise well into 2025.