PHOTO: Property Investment
Gone are the days when property investors go and ‘kick the tyres’ themselves, so to speak.
A new study by MCG Quantity Surveyors shows an abundance of Aussie-based property buyers are looking further afield for their investments, with 300km being the average distance between owners and their investment properties.
Mike Mortlock, director of MCG Quantity Surveyors, analysed depreciation reports commissioned by 1000 clients in the year to May 2020, in order to extract investor buying habits.
He was shocked to find an average distance of 293 km between investors and their properties. This was even after excluding six offshore clients, who, when included in the study, hiked the average to 372 km.
“The numbers showed just 6.9 per cent of Australian-based investors bought within their home suburb,” Mortlock explained.
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