This week’s tip is for those looking at property investment in Brisbane and the surrounding suburbs.
There’s been a lot of talk in the media recently about what’s happening in the terms of the property market, lots of horror stories, and outlandish statements that are not really based on facts.
We’ve heard things from the media about property prices dropping by 15%. It’s causing a lot of investors or homebuyers to hold off and consider their decision.
I always come back to looking at the facts and what’s happening in that local area. If you’re looking at property investment in Brisbane and the surrounding suburbs, there are a lot of positives.
Property experts that have been industry for a long time are forecasting very strong growth for Brisbane and the surrounding areas over the next few years.
There are a few things that indicate continued growth. Brisbane is having the strongest population growth in history. We’ve got extremely low vacancy rates and if you’re trying to rent a property in the Brisbane, Gold Coast, Logan, Ipswich corridor it is very tough to find a rental property.
Finance interest rates are still relatively low. There are going to be some increases over the next couple of years, but the banks are already factoring that in.
Based on the population growth and the massive infrastructure that’s going into this region, there are a lot of people making a lot of money out of property at the moment.
Property Investment in Brisbane Statistics
As an example, coming back to the figures and statistics, CoreLogic RP data in its latest property report around Australia showed a decline in Melbourne and Sydney, which was expected. In Brisbane and Adelaide however, it was very strong.
For instance, over the last three months, Brisbane showed 7.2% growth. On a $700,000 property, that’s $50,000 that you would have made if you’d bought a property in the last quarter or, $50,000 you would have lost if you had held off making that decision.
Last month’s growth was 1.7%. So about $12,000 that property would have increased in the last 30 days.
These are all factors you should consider when you’re looking at buying into the property market. Take advice from those that have seen lots of cycles.
Bear in mind that property doesn’t always go up in value. There are long periods where it’s stagnant or flattening, but when it’s in that growth phase, it’s important to get in and take advantage when that market is really growing strongly.
If you have any questions or looking at getting onto the property ladder, feel free to book a time to chat in my calendar by clicking here.
Regards,
Geoff Tomkins
Buyers Advocate
PH: 0404 852 781
