Property investors tipping Perth and Brisbane as hot spots

Brisbane and Perth. (Photos: Getty)

With Sydney and Melbourne house prices forecast to plummet a further 3.3 per cent and 6 per cent this year respectively, property investors have been forced to look elsewhere.

And the capital cities they’ve set their sights on are none other than Perth and Brisbane.

According to a survey by Perth property investment consultancy firm Momentum Wealth, 36 and 33 per cent of survey respondents picked Western Australia and Queensland’s capital cities as the best place to invest.

Why Perth and Brisbane?

A combination of affordability and potential growth opportunities has driven higher investment interest in these cities, said Moment Wealth quality assurance manager Emma Everett.

“Whilst both markets offer strong levels of affordability compared to Sydney and Melbourne, they also hold promising opportunities for long-term growth, with Brisbane already experiencing overall price growth and areas of Perth performing strongly as the market enters its recovery,” Everett noted.

But she warned that investors interested in this city would have to move fast.

“Perth is offering some great buying opportunities for investors looking to take advantage of current levels of affordability, but those looking towards high-demand suburbs will need to move quickly or risk entering the market when competition levels have already picked up,” Everett said.

“We are already seeing significant evidence of this in some areas of the market, with increased activity from trade-up buyers resulting in significant price growth in Perth’s central sub-region across the past 18 months.”

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