Property investment moves interstate

Property investors are making a move to expand their portfolios beyond their own home state.

The preferred choice of destination is Queensland, with 51 per cent of interstate investors owning a property there.

This is despite house and unit prices in Queensland falling more than 6 per cent in the last financial year, further than every other state. However, in terms of interstate investor popularity Queensland was far ahead, with Victoria second best at 14 per cent, New South Wales at 12 per cent and with South Australia at 11 per cent.

Tasmania and the ACT have the highest proportion of investors who currently own property interstate, at about 50 per cent and 57 per cent respectively, whilst SA and Queensland have the lowest proportion, at 10 per cent and 9 per cent respectively.

Experts say that the appeal of Queensland comes from people purchasing properties that they could rent now and holiday in or retire to in the future.

This suggests that investors are choosing rental properties in the areas they believe will give them the best returns, regardless of where they live.

It’s possible that some people are moving interstate for work and lifestyle reasons, but keeping their existing properties to generate rental income or in case they intend to return.

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