Investors snub Tassie property

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Tasmania is Australia’s least popular state to invest in property, according to the results of a poll by Your Investment Property magazine. 

Your Investment Property ran an online survey asking respondents to answer where they were most likely to invest over the next six to 12 months. Less than 1% of respondents replied that they would invest in the Apple Isle, lower than the number of investors who said they would buy property overseas. 

Aidan Devine, Your Investment Property deputy editor, said the results showed the state’s continuing struggles to attract investors, amid a weakening employment sector and negative population growth. 

“Tasmanian property remains affordable, and within select markets there are some great opportunities for property investors, but because of the state’s economic troubles it would seem that a lot of investors have become hesitant about investing there,” he said. 

Other results of the poll showed that New South Wales remains the most popular state for investing, with 27% of respondents noting that they planned to invest there in the next six to 12 months. This was marginally ahead of second favourite Queensland, where 24% of respondents said they wanted to invest.  

Victoria and Western Australia each received a respective 10% of votes.

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Top Suburbs : newcastle , newtown , rooty hill , willoughby east , st kilda west

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Comments
  • Chaika says on 30/08/2012 05:17:53 PM

    Poor little Tass...

  • Eos Property says on 04/09/2012 10:13:49 PM

    No surprises really - from what I understand the Tasmanian economy is a bit of a basket case. Need strong economy to help drive prices upwards. Nice place to live but invest there - don't think so.

  • Eos Property says on 05/09/2012 10:28:12 AM

    Add to my previous comment regarding the Tasmanian economy the ABS has predicted population decline in Tasmania in period up to 2026. Couple this with the slowest growing number of households in the whole of Australia and it is easy to understand why Tasmania is off most property investor's radar. Source ABS 32360

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