Demand for real estate in Burpengary could be about to grow among investors, as it emerges that lending to this group has reached a seven-year high. Commenting on official data from the Australian Bureau of Statistics (ABS), the Queensland state government revealed just how strong investor finance commitments are.
Treasurer Curtis Pitt said: "Housing finance in Queensland for the purchase of existing dwellings hit $4.2billion in the April quarter 2015.
"Investor finance commitments for the construction of new dwellings remained at $625million during the same period."
There are already high hopes that this trend will continue for some time to come, especially as the official cash rate remains at its all-time low of two per cent. Mr Pitt highlighted that Brisbane's rental yields are generally more enticing than other state capitals, which may encourage further interest from investors in the near future.
Investors are particularly attracted to townhouses, units and apartments at the moment, the Queensland government revealed, as they are providing the strongest rental yields. It is possible that more people will therefore enter the Brisbane market both from within the state and further afield.
ABS figures show that in April, the value of owner occupied housing commitments was up 1.3 per cent in trend terms. However, on a seasonally adjusted basis, an increase of 3.1 per cent has been registered.
There is further good news for anyone hoping to invest in real estate in Burpengary, as it emerged that the number of available properties is on the rise. SQM Research found that in May, there was a 5.5 per cent increase in property listings from the previous month. On a yearly basis, listings marked an increase of 0.9 per cent.