Further price growth on the cards for Queensland property
Now could be a good time to take a closer look at investing in real estate in Burpengary, as it emerges that property prices are forecast to grow further across Queensland.
The latest edition of the National Australia Bank and CoreLogic RP Data Australian Housing Market Report shows that the price growth of recent months looks set to be sustained. During the 12 months to March 2016, the groups predict that property values will increase 3.3 per cent.
It is this sort of steady rise that investors will no doubt be keen to cash in on. Sudden increases or decreases in property prices can indicate market instability, which any seasoned investor will want to avoid at all costs.
Across the rest of the country, house price growth is expected to slow down next year to reach 3.8 per cent. This will be a direct response to a rise in unemployment, as well as increasing concerns about the affordability of property.
Brisbane is forecast to see its values increase around 5 per cent in 2016. This is in stark contrast to Sydney and Melbourne where slowdowns of 5 per cent and 3.5 per cent respectively are on the cards.
For the time being at least, there should be plenty of property for investors to choose from. SQM Research reveals that in April this year, 5.5 per cent more properties were listed for sale than the previous month. Listings were up 0.9 per cent from a year earlier.
If like many investors you want to take a closer look at real estate in Burpengary, make sure you speak to our team. With years of experience in the local area, we have all the knowledge you'll ever need to make an educated purchase.