Consumer confidence in property in Brisbane has “undeniably” spiked over the past year with improving sentiment and increased activity taking place, according to a residential research organisation.
Place Advisory’s latest Investment Sentiment Survey found that over 80 per cent of respondents believed the Brisbane residential market has improved over the past 12 months, and half were looking to buy a property over the next year.
Place Advisory director Lachlan Walker said this year’s annual survey results were in line with industry speculation over the past year.
“Brisbane’s residential market has clearly been strengthening, with improving sentiment and more activity taking place, and these conditions are reflected in the survey results,” he said.
“It’s great news for the market that investors are feeling more positive. This confirms what we suspected already - that they will continue to be very active in the short to medium term.
“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 cheaper than our interstate rivals,” he added.
Mr Walker said the top priorities for investors looking to buy continue to be proximity to the CBD, multiple transport options and retail and lifestyle amenities.
“Buyers understand this creates demand for people to rent and buy and drives capital growth in the long run,” he said.