- March 13, 2013
- Posted by: Rogers Property Group
- Category: Latest News
I just read a fabulous article giving 10 reasons why Queensland and especially Brisbane is such a great place to be investing at the moment. I thought I would share the highlights with you. A great read for those those looking at how to get started in property investment or just anyone looking for some property investment advice
1. Queensland’s population growth is up 50% on last year’s figures. Last year’s population growth figures were 50,000 this year it is at 75,000. That is a huge increase. Increase in population equates directly to an increase in demand
2. The ABS reports that over 30,000 new jobs were created in QLD and more than half of those were in Brisbane.
3. Brisbane is falling into deeper undersupply of property. Last year Brisbane needed 33,000 new houses however, only 26,000 were built. That is a shortfall of around 20%. When supply is reduced and demand is increased inevitably prices will go up.
4. The vacancy rate across Brisbane is extremely low at 1.9%. Rental returns are continue to increase across the greater Brisbane area.
5. BIS Shrapnel, one of Australia’s premier economic forecasters has predicted that Brisbane’s property values should start increasing at a steady rate in 2013 and accelerating into 2014 as the economy strengthens and the underlying housing shortage becomes more apparent.
6. New property prices have increased by 4.9% in 2012 which when compared against the national average of 1.9% is outstanding.
7. The number of listings across Brisbane has decreased by 6% demonstrating the under supply of housing.
8. Properties in Brisbane are now selling faster and there has been an increase of 10% in the number sales settled.
9. Auction results have dramatically improved. The auction clearance rates in 2013 were 56% better than those for this time last year.
10. Brisbane is very affordable. The second most affordable mainland capital. With the increase in rents and the drop in interest rates, owning property can cost virtually nothing.