Why home buyers are now more open to high-priced properties
Buyers are more likely to spend more to secure a property as their preferences shift towards bigger spaces with higher p...
As Queensland warms in the wake of Sydney and Melbourne’s cool property spell, a new investor survey has revealed a few surprising shifts in investor preferences.
A new survey by Place Research has has found that apartments are gaining ground on houses, while properties close to the Brisbane CBD with a pool are top of the list for investors.
It found that in 2017, 52 per cent of investors said they would prefer a house, with 20 per cent looking for an apartment. But in the first half of 2018 investors have shifted their preference, with 49 per cent opting for a home and 26 per cent choosing a unit.
Proximity to the CBD was the most important driver for investment at 28 per cent, with access to public transport also a key priority at 20 per cent of respondents.
The survey also said investors believed a pool was the most attractive property asset; at 41 per cent of respondents, followed by no amenity at 19 per cent, and a gym at 15 per cent.
Executive chairman of Consolidated Properties Group, Don O’Rorke, said the results of the survey echo his own rules for property investment.
“The first rule is to know who your market is — or in the case of property investors, who the likely tenant will be,” he said.
“Government projections indicate that by 2026, Greater Brisbane’s population growth is likely to be led by the 20 to 24 year-old age group, as more young professionals move into the city to be educated and find work.
“This demographic is likely to either be renting or looking at taking a first step on to the property ladder, so an apartment makes sense in terms of securing a tenant or reselling to a younger buyer.”
He said that people look to rent or buy close to work.
“And given the billions of dollars in new infrastructure being delivered in the CBD, it’s no surprise that investors are lining up for inner city properties.
“The demand for facilities like a pool and gymnasium is as much about lifestyle as it choosing a property that stands out from the crowd and will appeal to tenants.”