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Almost 90 per cent of investors will purchase property in the next two years, a survey from PRDnationwide has found.
According to the results, 70 per cent of respondents would buy interstate and 66 per cent are looking for long-term capital growth.
The survey of 764 investors found the majority are seeking a property priced between $300,000 and $450,000 which achieves a rental return of between 4 to 5 per cent annually.
More than 36 per cent of investors will look to purchase properties located in the middle surburban ring, while 33.7 per cent want to buy in the inner city, 14.9 per cent in the coastal areas, 7.9 per cent the outer suburbs and 4.8 per cent are looking at the CBD.
Two-thirds of investors were seeking a property for long term capital growth while 22.5 per cent were seeking a rental yield.
PRDnationwide national director Jim Midgley said the results were indicative of the rise in consumer confidence.
“Considering the poor sentiment towards property within the past eight months – these results are promising that investors think we have reached the bottom of the market,” he said.
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