Brisbane remains investors? top pick for property performance this year, despite the 2007 surge by both Adelaide and Melbourne.

A third of respondents to our recent on-line poll chose Brisbane in answer to the question: ?Which major city has the best prospects for residential property investment in 2008??

This is a slightly lower rating compared with the equivalent poll a year ago, when Brisbane was ranked No.1 by 37% of investors.

Adelaide, the best-performing city in 2007, has rocketed from No.5 to No.2 in investors? estimations, scoring 27% of the vote to be a close second behind Brisbane.

Melbourne, oddly, has increased its vote but dropped from No.2 a year ago to No.3 in investors? minds now; 17% rate Melbourne the best place to buy property in 2008. A higher rating might have been expected, given the city?s tremendous surge in values late last year.

Sydney has dropped from third to fourth, with only 10% of the vote and Perth ranked fifth with 8%. Canberra, Hobart and Darwin received negligible support, with the Northern Territory capital last.

The lack of enthusiasm for Canberra for the second year running is strange, given its consistently strong real estate performance. A year ago respondents to our poll ranked Canberra last of the eight capital cities, but it actually was the fourth best performer on median price growth in 2007.