The recent research conducted by Australian Apartment Advocacy has indicated that investors across the country are feeling buoyant about their property values with NSW leading the pack, with 94% believing their apartment will have improved in value in the next 10 years.
There was also consistency across the states in terms of what investors were looking for when they purchased their current apartment, with 54% seeking a two bedroom and 63% seeking one car bay. 15% nationally were seeking three bedroom apartments with WA and QLD showing a greater preference at 17% and 19% respectively. This could definitely be linked to the fact that 19% of WA investors were planning to live in the apartment once they retired.
And while 36% of investors would seek to buy a two bedroom apartment next time, surprisingly 33% nationally would also seek to buy a three bedroom with QLD showing a 40% preference for these larger apartments. This was also reflected in the number of car bays with 61% nationally showing a preference for 2 car bays compared to 27% indicating just one car bay.
WA was also on par with the nation with seeking a CBD apartment next time, while Victoria ranked the highest with 65% preference.
But surprisingly only 37% of WA investors would recommend purchasing an apartment compared to 50% nationally and 60% of NSW and QLD investors.
And on a final note, there was again consistency across the states about why investors chose their current apartment with 84% indicating because of the location and 56% because it was close to public transport.
If you would like to see the full findings from the 2019 research then contact Sam on 0452 067 117 and tee up a time. This is the first research of its kind in Australia and provides a unique insight that will benefit government and developers alike.