Now is the time for upgraders to make their move in the southeast Queensland market.
The region presents good medium and long-term investment opportunities.
This is due to a number of factors including good internal migration to the region creating an increase in demand for houses.
Also, the area is very affordable compared to Sydney and Melbourne, particularly when taking a long-term view.
What we are seeing is a market with good projections.
You won’t see a red-hot market with double digit growth, but you will see, overall, a balanced market between buyers and sellers with some small pockets leaning towards sellers in high-demand areas.
Usually, you won’t see people paying inflated prices.
With the Queensland Government taking significant steps to grow its economy, the local property market was likely to prosper and as a result, the state continued to attract a high number of interstate migrants in search of affordable housing and employment.
The $5.4 billion Cross River Rail and upgrades to the M1 are just two of the major infrastructure projects expected to have an impact on the economy.
The Advance Queensland initiative is also designed to create knowledge-based jobs, drive productivity improvements and help position the state as an attractive investment destination with a strong innovation and entrepreneurial culture.
When we have significant slowdown and price reductions in Sydney and decelerated prices in Melbourne, as is the case now, this traditionally means southeast Queensland attracts more interstate investments.
We have good fundamentals right now.
Relatively good housing affordability, population growth and therefore demand for houses, improved jobs and economy, weakness in other markets, and modest capital growth so it’s not an out-of-control market.
SUBSCRIBE & DON'T MISS A SINGLE EPISODE OF MICHAEL YARDNEY'S PODCAST
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
NEED HELP LISTENING TO MICHAEL YARDNEY'S PODCAST FROM YOUR PHONE OR TABLET?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
PREFER TO SUBSCRIBE VIA EMAIL?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.