Australians now prefer to invest in stocks over property, term deposits and other investments, according to a survey.
According to the May 2020 Fear, Greed and Hope survey from Switzer Financial Group, 62.8% prefer stocks over property, and 62.5% of stock investors believed it was a good time to invest in the stock market.
In the February survey, 37.4% of investors believed the stockmarket would crash in 2021, with 40.7% expecting it to crash in 2025 or later.
When it came to their investment strategy due to the COVID-19 pandemic, 38.7% said they had become more conservative investors, while 21.5% said more aggressive.
Peter Switzer, director of Switzer Financial Group, said: “This great move up for stocks out of the bear market is a welcome trend that tells us that there’s an expectation that our economic future is looking miles better today than it did one, two and six weeks ago.”
Australian investors also thought biotechnology firm CSL and Macquarie Group were the stocks that would perform best over the next 12 months.
The survey featured almost 3,000 respondents which reflected the investing strategies of middle to mature aged investors who were either full-time workers or retirees.