Property investors will look to buy interstate

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Property investors will look to buy interstate this year, according to research from Property Investment Professionals of Australia (PIPA).

The 2019 PIPA Investor Sentiment Survey found 45% of investors surveyed are looking to buy outside of their home state in the next 12 months.

“More and more investors are recognising that there are myriad investment opportunities around the country, rather than being blindsided by what’s happening in their own backyards,” said PIPA Chairman Peter Koulizos.

“Australia has eight capital cities and dozens of major regional areas which have property markets at different stages of the market cycle at the same time.”

He pointed to recent examples of growth in locations such as Canberra, Adelaide and Hobart, and parts of regional Australia, while property prices reduced in Sydney and Melbourne.

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