Brisbane Overtakes Melbourne
Data released by CBRE in its Investor Intentions Survey 2016
has revealed that Brisbane is now Australia’s second most attractive city to buy commercial property, pushing Melbourne down to third place.
While Sydney remains the preferred market for domestic investors
, Queensland’s capital is now favoured above Melbourne as the next most popular location in which to invest in commercial property, with 26 per cent of respondents giving it the thumbs up.
The survey also revealed an 11 per cent swing to retail property
, with 34 per cent of respondents reporting it as their preferred option.
Also growing in popularity is the office market, with 31 per cent of investors surveyed stating that the office sector is their number one choice of commercial property
asset. Meanwhile, last year’s top sector, industrial
, experienced a sharp decline in favour, falling nine per cent with 21 per cent of respondents now reporting it as their top choice.
Among the investors surveyed, 37 per cent stated they planned to invest in more commercial property assets
in 2016, while 38 per cent stated they are likely to sell assets over the coming year.