Not since 2007 has Queensland had such strong economic indicators. Brisbane and its surrounds (45 mins from the city) have had
1. Increased home values in the last week
2. Increased home values in the month
3. Increased home values in the year to date
4. Increased home values in the twelve months
This is surprising given the fluctuations were seen in all other areas of Australia. The growth has been moderate (1.2% in last year) but in contrast, Sydney has declined 5.6% in the last year.
1. The cost of housing remains affordable to a larger investor market
2. Migration to QLD continues in an upward trend
3. QLD has had increases to wages, job vacancies and a decline in unemployment
4. Rental demand continues to increase
Areas outside of the CBD (but still within driving distance) have had much higher spikes. This is due to first home buyer demand and affordable housing stock.
For investors, we’d suggest looking outside the CBD where
1. Attractive for sea change or tree change (ie, near beach or bushlands)
2. If you are seeking rental yield, buy attractive for renters (new home or newer built with contemporary looks – example kitchen below)
3. Near schools, universities, and areas for families
4. Close to main roads to Brisbane CBD
Vacancies in Sydney hit 20,000 this month, which is a massive trend upward. Qld vacancies are trending downward (back to 9,000) while rental prices are on a steady but small increase.