Many "hardcore" property investors believe now is a good time to buy investment property.
The finding comes from a survey by Kiwi Property Investor magazine and BankDirect - a member of the ASB Group - to try to find out what property investors are thinking and doing.
The 689 investorsresponding to the survey were divided into hardcore property investors - those with five or more properties now or with ambitions to have that many - and the rest.
Of the 203 hardcore investors, a net 30 per cent thought now was a good time to buy. But the rest leaned slightly the other way, with a net of (minus) -6 per cent thinking now was a good time.
ASB chief economist Anthony Byett said the bullish mood among the hardcore investors may be driven by perceived opportunities in a slowing market, or a confidence in their own strategies.
"Whatever their reason, these hardcore property investors are in the mood to invest - over two-thirds stated intentions to buy within the next 12 months."
BankDirect head Jim Anderson said there was an appeal to buying on price dips, and buying houses in the flatter stage of the cycle did work.
The key was to have a strategy, including a clear vision of cashflows under alternative scenarios.
Overall, 49 per cent of those taking part in the survey felt house prices would neither rise nor fall in the next 12 months. Of the remainder, a net 7 per cent thought prices would rise.
