Strong state economy offers investment potential in Burpengary
Property investors looking into buying in Queensland should consider real estate in Burpengary, as the latest CommSec State of the States report has highlighted the strength of the region's economy. The stability of a state's finances is one of the key indicators of future growth, with Queensland posting some fantastic results in October 2014.
While economic growth in Queensland rose by 15.1 per cent over the last quarter, construction figures rose by 34.9 per cent over the same period. The strength of the housing market across the region could be encouraging for potential buyers, with the latest ANZ/Property Council Survey supporting these figures.
Acting Queensland executive director of the Property Council of Australia Chris Mountford said this was the fifth consecutive quarter of growth above the national average for the state.Encouragingly, expectations of strong growth are anticipated over the next 12 months.
"Additionally, capital growth expectations for the retail, residential, industrial, hotel and retirement living sectors are firmly planted in positive territory," said Mr Mountford in a 16 October statement.
As Queensland has seen some stellar results, and is poised for good future growth, now could be a good time to buy into the Burpengary property market.