Updated: Nov 19, 2020
PIPA Annual Investor Sentiment Survey is a detailed insight of Australia’s residential property investors. Surveying and questioning, PIPA provides a rare glimpse into the thoughts of property investors and for 2020 they have 1077 individuals who participated.
What has been apparent in 2020, investors need to think about their options going forward. As Peter Koulizos states in the report: “There is likely to be big changes to not only where people choose to invest, but also where they may prefer to live”. With this information, investors can be a little bit more flexible with their approach and not think linearly. We all know the security with investing in the major cities such as Sydney and Melbourne. However, 17% of respondents (PIPA survey) have considered moving due to COVID-19, main reasons being improved lifestyle (78%), working from home in the future (46%) and housing affordability (40%). It is evident that individuals are more likely going to question their buying or renting options, investors would benefit from thinking about these statistics over the long term.
PIPA found 41% questioned intend to invest in a different state than the one they live in (33% not in favour). Queensland has been touted as having the best prospects next year with 36% of investors surveyed looking to the Sunshine State as their success story. Victoria (27%) and New South Wales (21%) follow up as preferred states.
Highland Finance Pty Ltd trading as Figtree Property Advisory is a property investment advisor member of PIPA.