Queensland Property Investment 2017
The Queensland property investment market is in a general upswing in the first quarter of 2017, factors such as the recent drops in the exchange rate are being warmly welcomed by the more optimistic tourism industry. Major tourist centres in the southeast of Qld are increasingly showing positive signs, with property prices reacting accordingly. According to the Real Estate Institute of Queensland, two of the state’s strongest performers have been the Gold and Sunshine Coasts, with their median house values up 5.3% and 7.2% respectively over the past 12 months.
Southeast Queensland and Cairns real estate had a strong opening in 2017 and the State’s major tourism centres are also starting to hit their straps.
These improving conditions in the southeast generally kick-start growth in regional Queensland and we expect 2017 will be no different.
Despite the near-term political uncertainty, Linda Phillips of Propell is upbeat about the prospects for the state.
“We expect conditions to improve during the year. Inbound population growth continues and the relatively low prices will benefit from lower interest rates. We are forecasting house price
growth of 6% during the year,” she says.
And with the currency dropping, Australian property is 20–30% cheaper than 12 months ago for many overseas investors, who could also help push up capital growth.
PRDnationwide managing director Tony Brasier said falling stock levels, relative affordability and demand from interstate and Chinese investors were combining with the state’s growing population to promote slowly increasing values in the southeast.
“The southeast Queensland property market has all the characteristics of a market in the process of strengthening significantly,” he said.
Mr Brasier said southeast Queensland could have the strongest growth of all major regions nationwide this year.
National Investment Planning provides investment property selection and guidance for investors in the Queensland property market.
Contact us on 1300 545 899 for a free information pack, or to arrange an obligation free consultation.