The annual consumer sentiment survey conducted by Mortgage Choice found Queenslanders' consumer sentiment regarding next year was overwhelmingly positive.
The independent online survey in which 96 per cent of respondents were property owners found 86 per cent were confident the economy will be strong during 2008.
Despite the global credit crunch, rising housing prices and home loan affordability problems, sentiment has increased from last year's 77 per cent.
Mortgage Choice national manager Warren O'Rourke said the Queensland survey outcomes provide an interesting insight into the general public's expectations of and plans for the short-term future, especially in terms of property investment.
``There has been a significant uplift in consumers' perception of the country's financial situation,'' he said.
``Sentiment increased by 9 percentage points and consumers continue to have a positive outlook on property and their finances.
``With housing loan approvals still very healthy, though at a more reasonable pace, the results indicate this trend should continue with almost half the respondents (43 per cent) planning to invest in property in the next 12 months, up from 40 per cent last year.''
Interest rates remain a concern but Queenslanders were the least concerned about rates although 93 per cent of statewide respondents believed they will rise in the first quarter of 2008.
Of those Queensland respondents with a mortgage, two-thirds said they could afford a further rate rise and more than a quarter could factor in a rise of up to one per cent.
Most planning to invest in property in 2008 said they were making sacrifices to do so.
The most common were to cut back on spending (29 per cent), to buy a less expensive property than desired (12 per cent), or purchase in a non-ideal location (nine per cent).
A quarter of Quensland respondents said prices were rising quicker than before and it was affecting them in a negative way (for example with increased rent).
But 18 per cent said the price rises were affecting them in a positive way (as with increased rental income) while more than half said they were not affected.
Two-thirds of the sunshine state's respondents said they expected housing prices will increase over the next 12 months, compared with 42 per cent last year.
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source: goldcoast.com
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