Next boom market revealed
A new property survey has revealed the locations in which Australian investors are most likely to purchase next, with one state emerging as the preference of more than 50 per cent of respondents.
The 2015 Australian Property Investor Survey of prospective property investors y MRD Partners reveals Queensland as the market investors will most likely buy into during the next 12 months.
It found 50.26 per cent of respondents opted for Queensland as the location of their next investment property if they decided buy.
Western Australia (13.61 per cent), Victoria (12.56 per cent) and NSW (12.04 per cent) were the next most likely choices.
The survey found that 51.69 per cent of respondents were planning on buying an investment property within a year, and 86 per cent of respondents already owned at least one investment property.
Queensland-based investors made up the largest number of respondents at 22.71 per cent.
They were followed by investors in NSW (19.91 per cent), Western Australia (18.36 per cent), Victoria (16.91 per cent), South Australia (8.21 per cent), Tasmania (4.50 per cent) and the Northern Territory (4.20 per cent).
Nick Lockhart, managing director of MRD Partners, said that south-east Queensland in particular was due for an upturn.
“Investors know all markets go through a property cycle, where there is typically a boom, followed by a flat market and some price correction before it lifts again,” Mr Lockhart said. “Brisbane is the only capital not to have experienced a substantial lift since the GFC.
“The Brisbane market has moved from recovery to growth but has not yet entered what we could call a ‘boom’ market, so there is plenty of opportunity for people to get in now and buy before that growth comes.”