Property investors surveyed from around Australia have nominated Sydney and
south-east Queensland as the areas they intend to invest in over the next year, with the majority believing the property cycle is approaching the upswing stage.
The Colliers International National Investor Sentiment Survey found 63% of respondents were looking to buy property in the coming 12 months, with 28% of those planning to purchase residential property. Sydney and south-east Queensland made the top three list of markets/sectors investors were looking to target. Only office suites in Sydney scored higher, with 21%.
Investor confidence appears to be returning with most viewing the property cycle as being at or near bottom. The majority believe the upswing of the market will be well-underway in 2010, particularly in the latter half of the year.
Nearly half see property values as holding steady or even witnessing growth of up to 10% in the next year, being fuelled by historically low interest rates, low vacancy rates and increasing rental returns. Traditionally, when the residential market begins to shows signs of recovery, other market sectors follow suit. That has certainly been the case in the past and is now being seen in America.
For more information about the property market please contact our office on 1300 664 373.
