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THERE is one state investors want to buy property in more than any other – Queensland.

More than half the respondents to the Australian Property Investors survey by property investment group MRD Partners revealed their next purchase would be in Queensland.

Western Australia was the second most popular suburb for would be investors, with 13.6 per cent picking that for their next purchase.

New South Wales and Victoria appealed to 12.56 per cent and 12.04 per cent of investors, while South Australia was where 7.86 per cent of investors wanted to put their money.

The Northern Territory and the ACT weren’t very popular with only 1.05 per cent of investors looking to buy there.

Good news for renters

Good news for renters

MRD Partner’s managing director Nick Lockhart said it was not surprising that Queensland was a focal point.

Since the survey he has been holding meetings in Sydney and Canberra and the overwhelming feeling is that the Queensland market still has some value in it.

Investors in the ACT, New South Wales, the Northern Territory and Queensland were particularly interested in putting their money into Queensland property.

Victorian, West, Australia, South Australian and Tasmanian investors were most likely to stay within their home markets.

Investors from the ACT, NSW, Queensland and Northern Territory were keen to buy in Queens

Investors from the ACT, NSW, Queensland and Northern Territory were keen to buy in Queensland within the next year. This one-bedroom unit at 11/267 Gladstone Rd, Dutton Park is listed for sale for $259,000 plus and is rented for $285 a week. Picture: realestate.com.au Source: Supplied

Mr Lockhart said south east Queensland in particular had been long overdue for an upturn in its property market.

He said investors had seen huge gains in some markets since the Global Financial Crisis and it had reminded them that property can be a way to grow wealth.

Many felt they were “pretty well priced out’’ of the Sydney market and even within the areas they could afford to buy the rental yields were not as good as there were elsewhere.

“Investors know all markets go through what we call a ‘property cycle’ where there is typically a boom, followed by a flat market and some price correction before it lifts again and Brisbane is the only capital not to have experienced a substantial lift since the GFC,’’ he said.

“The Brisbane market has moved from recovery to growth but has not yet entered what we could call a boom market, so there is plenty of opportunity for people to get in now and buy before that growth starts.’’

The survey found it was not necessarily the wealthy that planned to buy an investment property with the majority of respondents classified as middle income.

Victorian investors were keener to keep their money closer to home. This one bedroom apar

Victorian investors were keener to keep their money closer to home. This one bedroom apartment at 411/528 Swanston St, Carlton is listed for sale for $212,000 and is leased on a monthly tenancy. Picture: realestate.com.au Source: Supplied

The majority of investors also planned to spend between $350,000 and $450,000 on an investment property and the preference was for house and land.

Mr Lockhart said the majority of investors were positive about the market with more than 51 per cent of respondents planning to buy within the next 12 months.

Investors in the ACT were the most gung ho with 89 per cent of them planning to buy.

Tasmanian investors were the most subdued with only a quarter planning to buy within the next year.

Mr Lockhart said it was a good time to invest because of low interest rates but that was only the case in certain markets and buyers should focus on those markets which were in the recovery phase or entering the growth phase.

From news.com.au