Brisbane continues to be the top property investment hotspot in Australia, attracting the greatest interest from both domestic and international investors, according to a new report.
A recent survey carried out by Property Investment Professionals of Australia (PIPA) found that almost half (48 per cent) of property investors would choose Brisbane as their preferred destination, putting it significantly ahead of any of the other locations on the list.
Melbourne came in second, with just under one-third (32 per cent) of investors interested in this thriving market.
Sydney was the location with the third highest level of interest, with 7.8 per cent of investors wanting to spend their money in this market, followed by Adelaide (6.6 per cent) and Perth (5.5 per cent).
PIPA also found that 70 per cent of investors think that now is a good time to purchase Australian property, while 61 per cent said they would be looking to do so for themselves within the next six to 12 months. This marked an increase from last year, when 58 per cent reported similar intentions.
However, at the same time, a growing number of investors are worried about their ability to secure finance due to changes to lending policies. Some 43 per cent of respondents said they are currently concerned about how this will impact their access to finance, up from under one-third (32 per cent) last year.
Ben Kingsley, chair of PIPA, commented: "Property investors are becoming savvier. Many of them continue to look outside of our biggest property markets of Sydney and Melbourne, which are coming close to the peak of their cycles.
"The two key reasons that Brisbane still attracts investors are affordability and the potential for attractive yields. Brisbane is investing in infrastructure to make the city more liveable and investors are betting on this."