By Joel Davis, Image Property
Brisbane’s many charms have always been well understood by those of us lucky enough to call the River City home.
Now, it seems, that the Sunshine State capital is firmly on the radar of not only more interstate migrants, but also property investors from around the nation.
The 2020 PIPA Annual Investor Sentiment Survey found that Brisbane was the capital city with the best property investment prospects over the next year.
The survey, which attracted nearly 1100 responses from investors in August, showed that Brisbane was the number one pick for investors, with an impressive 36 per cent of investors saying they were keen to buy here sooner rather than later.
What are investors thinking?
The annual survey provides a snapshot of what investors are thinking about market conditions from one year to the next.
This year, even with the pandemic creating unprecedented uncertainty, the majority of investors remain upbeat about the months ahead.
In fact, about 67 per cent of investors believe that now is a good time to invest in residential property, with 44 per cent of investors even looking to purchase a property in the next six to 12 months.
Of those looking to invest, nearly three quarters are interested in purchasing an established house, with about 10 per cent indicating they will purchase a townhouse or unit.
Plus, about 45 per cent of investors say the pandemic has actually made it more likely that will buy a property in the next 12 months!
Why does it matter to the Brisbane market?
The optimism, or otherwise, of investors is an important barometer of what may be ahead for property markets.
That’s generally because investors tend to be more hard-headed and will not purchase a property if they don’t believe the timing is right.
So, with more than one third of investors believing that Brisbane, and Queensland generally as well, offer the best investment prospects that has to be a positive for our local market over the next year.
On top of their buying intentions, plenty of investors are also considering moving here as well!
The survey found that nearly 20 per cent of investors were considering relocating because of the pandemic with lifestyle factors and housing affordability being two of the main factors.
Of course, in Brisbane, we have both of these attributes in spades, which is why 16 per cent of investors say they are contemplating migrating to Brisbane.
Indeed, our agents continue to report plenty of enquiry from southern buyers who are often purchasing a property in Brisbane before they are able to even more here.
This is part of the reason why there is such strong demand for Brisbane property at the moment, together with an unusually low level of listings.
That’s why sellers who are contemplating a move of their own would be wise to make the most of the current strong market conditions courtesy of solid demand from buyers near and far.