A survey of members of the Property Investment Professionals of Australia has revealed that Brisbane was regarded as the best capital city for property investment.
Apparently, cashed-up baby boomers from Sydney are just waiting to make a mint on their Harbour City homes and are queueing up to migrate north to buy cheaper property in the River City. Is that good news for Brisbane or will it simply make property more unaffordable?
Kieran Clair is the Director of Bricks and Mortar Media. Kieran is chatting with Loretta Ryan.
Property investment professionals are overwhelmingly positive about the year ahead, but tighter lending conditions remain a concern, according the 2018 PIPA Member Survey.
The annual survey, conducted in February, found that 100 per cent of respondents were optimistic about their businesses with more than half saying they would employ more staff this year.
However, the number one property market concern was the tightening of lending to investors.
Over the past 12 to 18 months, all investors have had to deal with the APRA restrictions, which lenders have faithfully implemented.
A new survey has found investors believe Sydney is least likely to offer investment success over 2018, while the majority see Brisbane offering great prospects.
According to the The Property Investment Professionals of Australia (PIPA) 2018 Member Survey, 3.85 per cent saw Sydney as a viable capital city to invest in, compared to 11 per cent last year.
Sydney was tied with Canberra and Hobart, while Darwin placed dead last, with no-one believing it was worth an investor’s time and money.
Meanwhile, 46 per cent of respondents said Brisbane was worth investing into, coming in first for the second year in a row.
A mere 3.85% of property investment experts believe Sydney offers solid prospects this year, a major drop from 11% in 2017, according to the Property Investment Professionals of Australia’s (PIPA) 2018 Member Survey.
Nearly half (46.15%) of respondents said Brisbane offered the best investment prospects for 2018. The Queensland capital was also the top pick by property investment professionals last year, with 44% of respondents selecting the city.
Melbourne was picked as the second best location for property investment this year (19.23%), down from 29% in 2017.
The third pick was Perth, which has shown signs of recovery over the most recent quarters. About 15.38% of respondents said the WA capital offered the best property investment prospects for 2018, a significant increase from 3.7% in 2017. (more…)
