It’s the new year! Welcome to 2021! Where is the Queensland property market heading this year? Here are some trends given by industry experts that Landlords and Property Managers should take note of.
Brisbane remains resilient
Brisbane’s property values remained resilient over the year and experienced a mild downturn and property values have now been rising over the last few months. Property market confidence has lifted and Queensland has recorded an impressive recovery in house prices. Brisbane is likely to be the one of the best performing property markets over the next few years.
Lower interest rates
First-home buyers are taking advantage of incentives and established home buyers with secure incomes will be lured by historically low interest rates. The prevailing low interest rate environment is making it easier to invest in property. In fact, it’s never been cheaper for investors to own a property with the “net outlay” – the out-of-pocket expenses – being the lowest they’ve been for decades.
Investors, not only from Queensland, but from interstate are finding the price points and rental returns of Brisbane property very favourable. Soon, 40% of our population will be renters, partly because of affordability issues but also because of lifestyle choices. Queensland has now become the number-one destination for internal migration, taking over from Victoria and overseas migrants are starting to see Brisbane as the place to be, bringing 12,847 residents into the city.
Houses in demand
Domain’s Buyer Demand Indicator shows houses remain a firm favourite of prospective home hunters, with demand rising post-lockdown and it remains significantly elevated compared to last year.
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