Lenders and property experts alike are forecasting great things for many Southeast Queensland markets / the Brisbane Property Market thanks to high demand and the sheer number of transactions that have taken place in recent months. Unexpectedly, both metrics have increased since before Caronavirus struck locally and internationally and there’s no sign of either slowing…
At the end of 2020 Corelogic reported a 4.14% increase in its Brisbane Home value index with that figure averaged between houses at +4.66% and units at +2.33% (year on year) over the 12 months prior.
Naturally, many property experts predicted a dramatic fall in values as Covid hit, but those same experts have been forced (thankfully) into revising their forecasts thanks to the opposite actually happening, now citing 6-10% capital growth in 2021. Arguably the best piece of news coming from the revision is that it covers not just the Brisbane property market, but almost the ENTIRE southeast Queensland region!
House prices are on the up, but what does it really mean?
Despite values rising with demand, it’s important to note there are still PLENTY of super affordable locations offering incredible value, so don’t start to worry about not affording your own home or investment. It’s fair to say that some of these submarkets should be avoided, but our Investment Specialists are in a position to show you those to look at seriously. Market’s that are ready to help you achieve your financial goals.
All of this is clearly good news for investors – investing in a market moving like this now, will see you take advantage of fantastic growth in your investment in the short term. The longer-term outlook is also great (Westpac are calling a 20% surge between 2022 & 2023), but the importance of selecting the right property type in the right location can’t be overstated. That’s where our Property Investment Specialists can help. Combine our extensive knowledge of the region with the right financial structure and you’ll be well on your way to success.
The proof is in the proverbial pudding …
There’s a handful of clear things that’ve been happening to bolster the performance of the Brisbane property market & property markets in southeast Queensland:
- Historic low interest rates. This reduces repayments drastically on new loans, and encouragingly, the RBA has “promised” it won’t raise rates for at least 3 years!
- Changes to remove overly restrictive lending rules, which many lenders are beginning to take on board. These changes are designed to give you easier access to credit and potentially more of it to help you into the market faster and in a better position.
- The federal budget also makes the list thanks to its encouragement for job creation and consumer confidence that combined helps along buying and investment.
Proceed with well-educated caution …
We must consider that there will be difficulty for some, as businesses close after Covid economic relief eases as well as any other external factors outside normal control, but that’s why we approach property investment with a complete understanding of the market alongside your individual goals and circumstances.
We’ve said it before, but we’ll say it again – getting the right team on your side is what’ll help you achieve your investment goals sooner. It costs you nothing to speak with our specialists, so get in contact with us today, we’re on your side (the winning side).