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\u201cRather than going to ground during lockdowns, it seems investors looked for real estate opportunities further from their home suburbs than ever before,\u201d Mr Mortlock said.<\/p>\n
\u201cWhat\u2019s perhaps most telling is the rapid increase in those looking for assets positioned exceptional distances from their home.<\/p>\n
\u201cBuyers investing in locations more than 200 kilometres from home rose from 29.5 per cent in January 2020 to 44.65 per cent in November 2021.\u201d
\nEven more dramatically, the report shows that the percentage investing more than 1000 kilometres from home more than doubled during the period.
\nWhile the results are striking, they were in accordance with predictions MCG made in July 2020.<\/p>\n
\u201cThe latest numbers showed just 6.75 per cent of Australian-based investors bought within their home suburb,\u201d Mr Mortlock said. \u201cI\u2019d suggest this is a dramatic drop from the proportion we\u2019d have seen 10 or 20 years ago.\u201d<\/p>\n
The analysis also revealed the state most buyers choose to invest in.<\/p>\n
\u201cOur figures indicate Queensland was the most popular investment destination with 37.44 per cent of our investors buying there,\u201d Mr Mortlock said.<\/p>\n
\u201cThis was followed by New South Wales with 34.31 per cent, Victoria saw just 11.31 per cent of the investor pool, while the rest of Australia made up the remaining 15.94 per cent.\u201d<\/p>\n
Mr Mortlock said a range of factors had made distance buying an attractive option.<\/p>\n
\u201cFirstly, lockdowns and economic uncertainty during the pandemic has had Australians thinking long and hard about their financial situation, so investing has been front of mind,\u201d he said.<\/p>\n
\u201cTechnology makes it possible to buy property from the comfort of a locked-down home. Modern day investors see the whole of Australia as a potential market \u2013 not just their state or city.<\/p>\n
\u201cAlso, the surging popularity of regional relocation in this remote working world has boosted those property markets.<\/p>\n
\u201cCapital growth rates in many regional centres rivalled big cities in 2021, and investors want to get a piece of this action.\u201d<\/p>\n
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A new study indicates property investors have \u2018doubled the distance\u2019 between where they live and where they invest in response to the pandemic. The analysis also revealed which state most buyers are investing in Mike Mortlock, managing director of MCG Quantity Surveyors, said its latest Property vs. Postal survey showed remote and borderless investing had […]<\/p>\n