A survey of 1,000 property investors by the Property Investment Professionals of Australia found 50% preferred Brisbane as the best place to buy real estate, while 20% opted for Melbourne, 10% for Sydney, 9% for Adelaide and 4% for Perth.
The two key reasons that Brisbane was attractive to investors, in spite of concerns around inner-city oversupply, were affordability and the potential for attractive yields. Infrastructure investments were also attracting property investors.
The survey found many investors believe Sydney has become too expensive, making it difficult to justify the cost when weighed against the rental return.
Some investors are also looking at the Gold Coast, Newcastle and Canberra for growth prospects.