Australian investors remain uncertain about the long-term prospects for the country's property market, with many citing the elevated home prices in the region as a key concern.
This is according to a joint survey by FNArena and AIA, which revealed the numerous concerns held by real estate purchasers ranging from high oil prices, nuclear threats in Japan, sovereign debt problems in Europe and a perceived anti-business climate in Canberra.
Of the 460 respondents to the research, 21 said they were bullish about the market's prospects, 27 per cent bearish and 52 per cent neutral.
"The majority of investors remain in the middle. They're less bullish than a month ago, less confident about 2011 earning projections and increasingly negative when they read about the debt problems of the US and Europe," Alison Harrington, president of the AIA, said.
It follows the results of the Australia Investor Sentiment Survey in which AIA members were asked to rate their current level of confidence in the stock market on a scale of zero to 100, with the first reading standing at 54.