A new survey has found that most property investors believe this year is a better year to be investing than last year.
The Property Investor Sentiment Survey of 820 property investors, conducted by the Property Investment Professionals of Australia (PIPA), found that 77% believe now is a good time to invest in property, compared to 71% at the same time last year. Additionally, 90% are not concerned with price decline in some sectors of the Sydney and Melbourne markets, saying that they will not slow down their investment plans.
The capital city with the best investment prospects was determined to be Brisbane with 44% of investors believing so, up from 43% last year. In comparison, 26% said Melbourne (down from last year’s 32%) and 8% said Sydney.
“The affordability of Brisbane compared to Sydney and Melbourne has really come into sharp focus in the past year,” says PIPA chairman Peter Koulizos.
Houses remained the favourite property type, maintaining a response rate of 67% from last year.