Buyer interest in $1m properties soars
The low cost of debt and high household savings are enabling Australians to buy more expensive properties, new research ...
Small houses are more popular with first-time investors than apartments, according to the Mortgage Choice 2013 First Time Property Investors Survey.
Forty-six per cent of respondents who are looking to purchase in the next two years wanted to buy small houses with one to three bedrooms.
Small apartments with one to two bedrooms were the second most popular choice at 21 per cent, while large houses with four or more bedrooms came in third at 16 per cent.
Mortgage Choice spokesperson Belinda Williamson said while investment strategies are as diverse as the investors themselves, there are definite similarities when it comes to preferences around the property market.
“Houses are king for first-time property investors, with a small house topping the list in all states as the preferred investment property type,” she said.
“South Australia was the clear leader, with 56 per cent of this state’s respondents looking to invest in a small house, while New South Wales was at the other end of the scale with 39 per cent of respondents planning to do so.”