With the Federal
Government capping the concessional threshold for superannuation contributions
at $50,000 for those people aged 50+, respondents were asked where they
would put their extra funds - into improving their own home, investing
in a negatively geared property or into the share market.
Managing Director of Archicentre said an overwhelming 71% of respondents
chose property with 40% investing in their own home and 31% investing
in a negatively geared property. Only 29% chose to invest in shares.
Mr Caulfield said with low interest rates an increasing number of
people are turning to invest in their home for an improved lifestyle
and capital gain, and this is driving the market interest in property.
"They are rejecting moving home which can be an expensive exercise with
moving costs up to between $50,000 to $75,000 involving loan fees, agent
fees, removalist fees, and excessive non productive government stamp