It seems you can't keep the Australian property market down for long. Back at the start of June, when the CoreLogic RP Data Hedonic Home Value Index for that month was released, some observers were concerned that the combined capitals – and a number of individual ones – had shown negative growth. The release of the organisation's latest Home Value Index should put those fears to bed now.
Capital city home values bounced back in June to post an impressive 2.1 per cent rise in values over the month – and Brisbane was a big winner. While it had seen a decline of 0.8 per cent in May, June saw the Queensland capital's property values climb by 1.7 per cent.
This should be encouraging for anyone thinking to buy property in Burpengary and other Moreton Bay areas. The figures demonstrate that while temporary declines may happen, on the whole, capital gains are still going strong.
Part of the process of capitalising on this value growth is knowing just where to buy. While you want to see your property grow in price, it's also preferable to buy somewhere with a low price entry point.
One positive indicator could be the number of house and unit dwelling approvals. Areas with more approvals are not only more likely to see an influx of supply in the near term, they're also more likely to experience growth, as this figure suggests they are quickly developing neighbourhoods.
Cameron Kusher, senior research analyst at CoreLogic RP Data, found that the south of Moreton Bay was one of the top 20 regions for house approvals for the 2014-15 financial year. According to the figures, it saw 1,583 houses approved for construction over this time.
Owning real estate in Deception Bay and surrounding areas may not just be great for your lifestyle – it could also be a boost to your household wealth in due time.