Consumer concerns in Queensland explored
If you're considering Australian property investment, it pays to know just what consumers are looking for.
Whether your goal is to buy a house in Australia and sell it later or purchase a property to rent out, staying up to date on what amenities are highly sought after will give you a better idea of which property investments are worth your time.
A new survey from Master Builders asked its members in Queensland which elements are most important to their customers. This provides a critical insight into which criteria are most significant when considering Brisbane investment properties.
According to the results, quality remains more important than price for many home buyers and investors.
"Quality fixtures and fittings, liveable design, and outdoor living were other factors that ranked in the top five most important drivers in selecting a builder," said Master Builders Deputy Executive Director Paul Bidwell.
"In fact, over 40 per cent of house builders felt that each of these factors was of either major or critical importance to their clients."
It seems that swimming pools are also riding a wave of popularity, as respondents indicated that nearly every new home has a pool. However, while pools are cool for the home buyer. investors should generally stay away from properties with a pool as they add significant maintenance costs compared with the additional rent they may generate.
On the other end of the spectrum, it seems that environmental performance and garden size were among the least important factors for consumers.
"In terms of dwelling sizes, 71 per cent of respondents reported that consumer demand for larger dwellings has not changed, which is one of the reasons housing affordability in Queensland continues to be an issue," Mr Bidwell said.
While these results deal specifically for new homes being built, they shed light on the features potential home buyers and renters are concerned with. One of the key things that tenants seek is large balconies for outdoor entertaining and living due to the warmer climate.
If you're considering Brisbane property investment, researching what concerns are most important to consumers is a wise strategy when it comes to choosing a property.