When you discuss the Australian property market now, all you seem to hear about is rising property prices. And fair enough: The rising cost of real estate is a pressing issue for buyers, and knowing how to get around them is key to entering the current market. But is that all there is to discuss when it comes to buying property in Burpengary?
Take the recent results from the CoreLogic RP Data Nine Rewards Consumer sentiment survey, released on 24 July. Despite the rise in value of housing in the capital cities over the last three years, most Australians (60 per cent) still agree that now is a good time to buy property.
Unsurprisingly, Brisbane and regional Queensland were two of the areas where respondents were most positive about the prospect of buying a house. Looking at the figures it's not easy to see why. According to the CoreLogic RP Data Home Value Index for 30 June, Sydney and Melbourne have median prices upward of $700,000, while Brisbane's is still only at $529,000. At the same time, Brisbane has seen a solid 3.51 per cent rise in price over the last year, showing good potential for further capital gains.
Of course, it's not just buyers who will be interested in the news. Those thinking to sell property in Deception Bay, Morayfield, Narangba and other Moreton Bay areas might also be intrigued at the findings.
Sixty-five per cent of respondents believed now was a good time to sell, the highest figure recorded by the survey since it began at the start of 2013. This was obviously largely driven by Sydney and Melbourne, but with Brisbane on the upswing, it does indicate anyone holding property currently could be in a good position going forward.
To see what your options are, get in touch with Ray White Burpengary. We can connect buyers and properties around the local region.