The Brisbane market may be on the brink of a turnaround, with a new sentiment survey signalling rising investor optimism.
The survey by Place Advisory indicates 80 per cent of respondents believe the Brisbane residential market has improved over the past 12 months.
In addition, half of respondents were planning to invest in the market in the next year.
Place Advisory director Lachlan Walker said the results indicated market activity would pick up in coming months.
“It’s great news for the market that investors are feeling more positive,” he said.
“This confirms what we suspected already - they will continue to be very active in the short to medium term.”
He said Brisbane’s comparatively low price point was a drawcard for investors from the southern states.
“There is plenty on offer in Brisbane that is attracting investors, and one of those key things is the city’s affordability proposition – property in Queensland’s capital is undoubtedly cheaper than in Sydney and Melbourne, with figures showing prices are up to 60 per cent less than our interstate rivals,” he said.
The most popular location for investors is inner Brisbane, with 65 per cent of respondents identifying this area as their top pick.
However, an increasing number of respondents also highlighted theCoast for its investment potential.
“Eleven per cent of investors nominated this region, north of Brisbane, as their preferred investment location, putting it on par with outer Brisbane,” Mr Walker said.