Property investors are most keen to putting their money in the Brisbane market.
New research which surveyed property industry professionals found that 44 per cent thought Brisbane had the best investment prospects this year.
PIPA chair Ben Kingsley said there were a couple of reasons that Brisbane was considered a good place to invest.
“The first one is that we know that the income to value ratio is substantially lower in Brisbane and southeast Queensland than what it is in both the Sydney and Melbourne market at the moment.
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“Your dollar is going to buy you more, you are going to get more bang for your buck.”
Mr Kingsley said that coupled with the good yields that were being achieved in Brisbane compared with Sydney and Melbourne made it an appealing prospect.
“It is going to steer investors up into that area,” he said.
He said historically Brisbane and southeast Queensland “arrived to the party a little later” than other capital cities, so as things were slowing down in other capitals they weren’t necessarily in Brisbane.
He said Brisbane was also considered a good lifestyle area to live, with affordable properties and shorter commutes.
The survey found despite uncertainties such as tightening of lending policies, taxation changes and potential interest rate increases, the industry was optimistic about how the market would perform this year.
Mr Kingsley said it was encouraging to see property professionals so confident about the outlook for their businesses and the sector more broadly.
He said the biggest concern for the industry at the moment was the tightening of investor lending followed by rising interest rates.
Michelle Hele, The Courier Mail, 22 February 2017