There is no better time to build or renovate in Queensland!
The Sunshine State powers on as suburbs record strong growth across the board, led by the southeast region.
For buyers looking to get a slice of the Sunshine State’s market, Southeast Queensland continues to be the location of choice.
“In Q3 2017, the Gold Coast recorded 139 surveyed sales, and 12 months later this has more than doubled with 298 recorded, with owner-occupiers being the highlight” says Clinton Ostwald, national director at Urbis.
Thankfully here in Brisbane, its affordability as a capital city compared to Sydney and Melbourne help stimulate and secure demand.
“You can come by Queensland – be it Sunshine Coast, Brisbane or Gold Coast – and buy two brand new houses for the same price as what you’d get for one rundown flat in Sydney. That’s made purchasing and sell-through rates quite strong,” says Damien Lee, head of acquisitions at Caifu Property.
According to the Queensland Market Monitor – there has been strong growth state wide with close to 70 suburbs logging double-digit growth in the 12 months to June 2018.
Antonia Mercorella, CEO of the Real Estate Institute of Queensland confirms “It is a really strong result, and [Queensland] is a great market to be in at the moment. There are many more suburbs delivering strong single-digit growth,” These findings also show that, while the southeast pocket is the place to watch, it is not the only grower in the state – central and northern Queensland have been making their mark too.
Suburbs outside of Brisbane that recorded more than 20% annual price growth were Minyama on the Sunshine Coast, Hollywell on the Gold Coast, Spring Mountain in Ipswich, Dundowran Beach on Fraser Coast, Boonah on the Scenic Rim and Idalia in Townsville. Mercorella also indicates that “This spread of suburbs is a good indication that Queensland real estate is delivering steady, sustainable growth across the board. We’re seeing growth outside the southeast corner,”
Exciting times ahead for South East Queensland in 2019.
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