Newspaper article Sunshine Coast Daily (Maroochydore, Australia)

Queensland Leads the Way; Buyers Here Prefer to Fly Solo When Buying First Investment Property: National Survey

Newspaper article Sunshine Coast Daily (Maroochydore, Australia)

Queensland Leads the Way; Buyers Here Prefer to Fly Solo When Buying First Investment Property: National Survey

Article excerpt

FOR 13% of Queenslanders who will buy their first investment property in the next two years it will be their first property purchase. This is compared to a 19% national average.

Of the 211 respondents to the Mortgage Choice 2011 Queensland First Time Property Investors Survey, all of whom were buying before July 2013, more than one in four intended to do so on their own.

In fact, Queenslanders were the most likely of any state to fly solo.

The biggest concerns for the next 12 months for these upcoming Queensland investors were:

Costs of living such as clothing, utility bills, etc a 25% of respondents.

Interest rates a 23%.

Economic management at Federal Government level a 20%.

Economic management at State Government level a 7% - the most of any state.

Job security a 7%.

While 13% did not plan to add to their investment property portfolio after this purchase (the least of any state), 23% planned to purchase as many as possible (most of any state).

On the Sunshine Coast it was interest rates that held the biggest concern at 33% while the key motivators for looking at an investment property were: Tax benefits 50%, future financial security 66.7%, potential rental yields 61% and capital gain 44.4%.

Mortgage Choice spokesperson Kristy Sheppard said, aOnce we'd delved into the results, the description that came to mind for these first time property investors was logical, well-planned, long term thinkers who were determined, careful researchers and aware of their limitations. This may be why so many are buying for investment purposes before becoming a home owner.

aThe findings show these novice investment buyers to be almost the opposite. They are making educated choices based on a long term commitment to their property cause and are thinking with their heads rather than hearts.

aFor example, 83% already knew how much of an interest rate buffer they were going to factor into their repayment budget and only 1% weren't putting in a buffer. …

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