CONFIDENCE remains high in the property market with a new survey revealing investors are keen to keep buying.
The majority of investors polled for the Smart Property Investment/PIPA Property Investor Sentiment Survey revealed they were planning to enter the market again in the next six to 12 months.
The survey found 80 per cent of investors believed now was a good time to invest in property, while 68 per cent planned to do exactly that in the next six to 12 months.
PIPA chair Ben Kingsley said about a third of respondents to the survey said low interest rates was the reason they were going to invest in property.
About a quarter felt there were good capital growth opportunities and about a fifth thought property investment was more stable than other forms of investment.
Mr Kingsley said there had been strong price growth in some property markets and some analysts thought it was overheated.
“But this is not the case right across the board and these survey results reinforce the fact that property remains a firm investment favourite,” he said.
Investors believe now is a good time to buy property. Picture: Thinkstock.
Mr Kingsley said investors were aware of the long-term capital growth prospects they could get through property and continued low interest rates made it an appealing way to try and build wealth.
More than half of respondents thought Brisbane had the best investment prospects, followed by Sydney (13 per cent), Melbourne (11 per cent) then Perth (9 per cent).
Mr Kingsley said Brisbane was appealing to investors wanting to diversify their portfolios because it was still an affordable market compared with Sydney and Melbourne.
But he warned it wasn’t as easy as just buying a property in Brisbane and watching the money pour in.
“It is not a guarantee that just buying any property in the market place is going to guarantee a good result.”
He said investors had to do the research to select the right property and make sure it was a “sound investment.”