Qld retains status as property investment darling, survey shows

Sep 2022Karen Millers

While Queensland continued to be the top pick for property investments, a new survey showed that the state had lost some of its shine to investors.

A new survey from the Property Investment Professionals of Australia (PIPA) showed that 33 per cent of investors named the Sunshine State as having the best investment prospects — continuing its winning streak from last year. 

A separate report by virtual tours platform Little Hinges seemed to reflect the state’s continued popularity among buyers, as data showed that Queensland continued to have the highest percentage of interstate virtual tours, with 33 per cent of 300,000 virtual inspections held across Gold Coast, Sunshine Coast, and Brisbane. 

However, PIPA noted that this is the lowest percentage the state received throughout its eight years of conducting the survey and lower than the 58 per cent investor interest it received last year. 

In another big change to previous years’ results, Western Australia has skyrocketed up the rankings to claim second spot by getting a vote of confidence from 17.8 per cent of the 1,618 surveyed investors. The figures are significantly higher than the 9 per cent the state received in 2021. 

NSW secured the third spot at 17.07 per cent, up from 16 per cent in 2021. South Australia closely followed, with 15.37 per cent of investors liking the state’s investment prospects. 

Victoria landed in fifth position — the state’s lowest ranking ever — with only 12 per cent of the vote. Despite this, the figures are up from the 10 per cent that the state received in the previous year. 

Among capital cities, Brisbane also took the top spot, with 35 per cent of investors choosing the city as the state capital with the best investment prospects. 

Despite reclaiming its leading position over other capital markets, this year’s figures are a significant reduction compared to last year’s 54 per cent. 

Meanwhile, Perth edged out Sydney to take out second spot, with 17.7 per cent of the vote. Adelaide was also seen as having better prospects than the harbour city with 16 per cent of respondents choosing the South Australian capital city. 

The two biggest cities, Sydney and Melbourne, landed in near-equal fourth spot with about 13 per cent of investor interest. 

The report also showed that regional markets are beginning to lose their appeal to investors, as the pandemic-induced pandemonium for regional markets is dissipating.

Almost 56 per cent of investors chose metropolitan markets as offering the best investment prospects, up from 50 per cent last year. Regional markets remained in favour with 23 per cent of investors, down from 25 per cent. 

Meanwhile, coastal properties, which have risen in popularity due to the sea-change trend sweeping Aussies off their feet from the city jungles, have also lost some of their appeal to investors. Only 15 per cent of investors now see coastal real estate as bankable, down from 22 per cent last year. 

Originally Published: Zarah Mae Torrazo | Smart Property Investment | 29 September 2022

https://www.smartpropertyinvestment.com.au/research/24111-qld-retains-status-as-property-investment-darling-survey-shows

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