A recent survey by Newcastle Financial Planning revealed that nearly a third (28.75%) of respondents plan on making a property transaction in the next 12 months.
Over half (51.5%) of those transactions are indicated to be property investments and at a minimum nearly half (45.5%) of the property investments made are likely to be in the Newcastle Hunter region.
Business Development and Marketing Manager, Jessica Shuwalow, said the survey was open to over 650 Newcastle Financial Planning clients and was developed to gauge how they could better support their clients interests and needs, but also get a feel for how that activity will benefit the local community.
“We included questions around our clients intended level of activity in the property market over the coming year,” Jessica said.
“60 per cent of the new client enquiries we've received this year are around strategies for buying a property.”
The survey also found that the second biggest source of funding for these property investments is likely to come from superannuation. Over a third (36.36%) of respondents indicated that superannuation would be a significant source of funding for their purchase.
Newcastle Financial Planning has recently launched a service, called Property Thru Super which facilitates the entire process involved in setting up an appropriate super fund to purchase direct property, to the ongoing management and administration of the fund.
“There are many benefits available to Self-Managed Super Fund (SMSF) members, specifically when it comes to purchasing property, from having access to a larger pool of funds, significant tax benefits and greater investment control,” Jessica continued.
“However, an SMSF is very complicated and time consuming, this is why we've developed Property Thru Super, designed to streamline the process and make it as simple as possible, however it does not mean an SMSF is right for everyone.”