A survey of property investors by PIPA has uncovered that nearly half of investors plan to buy a property interstate in the next year.
We’ve always said that your next property decision could be anywhere in Australia. Each time you purchase a property, you should aim to purchase the highest quality asset you possibly can and the location should be based on your goals and personal situation, rather than where you live or where a buyer’s agent is based. Or worse, where they are buying but not based!
This may mean purchasing in different state, city or regional centre to where you live or currently own. Diversification has many benefits for a property investor such as being able to offset different market cycles, access different asset styles and reduce land tax.
If a property in your city is out of reach. Being able to purchase a house close to the city in Adelaide may give you better capital growth prospects than a unit on the outskirts of Melbourne.
Our good friend, Peter the ‘Property Professor’ Koulizos, Chairman of Property Investment Professionals of Australia and Co-host of The Property Planner, Buyer and Professor Podcast outlines the numbers and why investors are becoming more open to buying interstate.