Property investment is still alive and kicking, with three-quarters of Your Investment Property readers planning to invest in the next 12 months – despite predictions of doom and gloom in the housing sector.
We asked readers to comment on what they thought of the current housing market, and their short term plan for the future. Respondents were surprisingly bullish in their approach, with 34% saying they were planning on buying in the next six months, and 41% intending to purchase within a year.
New South Wales topped the list of preferred locations for investment with over a quarter of the votes, while 20% rated Queensland as a viable option. Popular spots amongst readers include Newcastle and the Hunter region, greater western Sydney and wollongong, while Brisbane's CBD proved the most attractive area for investment in Queensland.
Your Investment Property publisher Claire Preen said that the results showed that property is still seen as a robust investment, despite negative press in recent months.
"Bricks and mortar has provided a popular investment option over the years, and still is," said Preen. "Your Investment Property has consistently argued that property is a profitable long-term investment - even throughout the GFC - and it's reassuring to see that our readers share our confidence."
Four out of ten respondents to the survey own between two and five properties in their current portfolio. Residential properties proved the most popular choice of investment, with only 17% of investors interested on commercial and industrial accounted.
Your Investment Property's poll results were backed up by the findings of a separate survey by property consultants Metropole.
Sixty per cent of respondents to the Metropole survey said they planned on buying an investment property in the next year, also nominating Sydney as the prime choice of location. It added that investors were most concerned with obtaining finance in a stringent banking climate, with economic uncertainty ranking a close second.
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