Queensland To Rank Among Best State Markets In 2019

Queensland To Rank Among Best State Markets In 2019

The NAB Residential Property Index recently came out and shone the light on some bright points of our Australian property markets.

Queensland's housing markets are expected to rank among the best performing across Australia during 2019 as they have the key factors that drive growth – liveability, affordability, booming infrastructure and enhanced economic prospects.

The Sunshine State leads the nation when it comes to confidence in residential property, as the gears shift from recovery to rising prices.

The NAB Residential Property Index recently tipped Queensland house prices will grow the fastest of the nation over the next two years.

Pleasingly, the same report saw upside for rental growth!

South East Queensland is tipped to be the prime beneficiary of Sydney and Melbourne’s property slowdown, with the state possibly set to return to its place as Australia’s No 1 destination for interstate migration, as more families and downsizers from the southern cities cash-in for a lifestyle in the sun.

2018 saw strong price growth across Queensland, from the suburbs of Brisbane to the coastal localities.

Economic growth and jobs now assisting the property market’s performance as Queensland emerges from the shadow of the mining downturn.

It is the value gap between the East coast capitals that makes the move compelling for many.

The value gap is the largest it has ever been between Brisbane and Melbourne and the largest in 15 years with Sydney, according to CoreLogic.

A typical house in Brisbane is around $393,000 cheaper than Sydney and $227,000 cheaper than Melbourne, with Brisbane's median sitting at $542,000.

Brisbane's median house price sits at new highs, after posting a 2.3 percent increase in the September quarter, with the Real Estate Institute of Queensland (REIQ) CEO Antonia Mercorella saying the strength of growth proved that Queensland real estate was a good investment and could be relied upon to deliver capital growth.

There has been an increase in house and land package prices, up 7.8 percent in Brisbane, up 5.05 percent on the Gold Coast sales and 4.99 percent on the Sunshine Coast where house and land package are a popular way to create a new start.

BIS Oxford Economics head of property research Angie Zigomanis said it was important for people living in Brisbane to understand the full picture of what was happening in the property market, which was considerably different outside of Sydney and Melbourne.

“There’s no reason to be scared to enter the market (in Brisbane),” he said. “We don’t see it falling away like we have in Sydney and Melbourne.

“Sydney and Melbourne are the markets that are going to come off because they had the unaffordability issues and the most exposure to investors — and people going out and stretching themselves financially — so they’ve got the most negative factors.

Angie Zigomanis says Brisbane buyers should not be put off the market.

“Investors have played a much smaller part of the market in Brisbane. People in Brisbane also haven’t had to stretch themselves as much with their borrowing activity. Brisbane hasn’t had the big run-up in prices, so it doesn’t have the big falls.”

Property Club has great property options in Brisbane, including House & Land that are primed and best placed for this impending capital growth!

Make contact with your Property Mentor or hit enquiries@propertyclub.com.au for further information!

Have a great weekend and catch you next week!

Troy Gunasekera

National Manage


Property Club being the leaders in Wealth Creation through property for 20+ years now, with over 20,000+ properties settled by Club members is in the enviable position of being best placed to assist YOU to have a retirement avoiding the pension!

https://www.propertyclub.com.au/contact-us/

Contact your Property Mentor for guidance and assistance on the best deals we have at the moment and let us show you how to avoid the pension!


Have a great weekend and catch you next week!

Warm Regards,

Troy

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