Perth: top spot for residential property investment

By Your Mortgage
In this bi-annual survey, regarding the individual investment intentions of the Australian public, almost the half of respondents (49%) nominated Perth as the most desirable location in which to invest in residential property; followed by Brisbane (23%) and Sydney (10%). "It was recently revealed that Perth's median house price is likely to top that of Sydney by Christmas - and the survey results suggest that investors expect these prices to be sustained into the foreseeable future" said Luis Garcia, director of Elderslie Finance Corporation. The review also highlighted the fact that residential property has become more unpopular on the grounds of expected increase of interest rates by investors. When compared with other investment classes, residential property was somewhat out of favour with investors. Whereas international shares were previously the most unpopular investments, the latest results indicate that residential property was the least appealing investment class. The most appealing class in Spring 2006 was fixed interest investments - preferred by 36% of respondents. The survey also found that for the majority of investors (68%) security is still essential for investment, as indicated in the last three surveys.