3 reasons to look at Queensland as a young investor
It's never too early to start making money. Property investment in Queensland can offer the chance to build capital gains over time, slowly generating wealth while you can even enjoy the short-term benefits of positive cashflow property.
But for many people, it can seem like there are significant price barriers to investing in property. However, if you look at the figures, this process might be more feasible than you think. Why might young people want to look towards property investment in the current environment?
There's affordability for all
Sydney and Melbourne property prices have skyrocketed of late, certainly. But Aesop's classic fable states, slow and steady wins the race - and Queensland might just be the hare in this case. CoreLogic RP Data monthly indices show that Brisbane's annual dwelling value growth is above 4 per cent. This isn't on a par with the powerhouses, but suggests slow and stable growth for your capital gains.
On top of this, the current interest rate environment means that taking out a home loan for investment is very affordable compared to historic interest levels. In fact, as of March this year, Genworth's Streets Ahead report showed a huge boost in the percentage of Australians that thought now was a good time to buy.
We're striding forward with confidence
A confident consumer base is another good indicator of a great time to buy, and Queensland has just come out on top of the mainland. This comes from the Westpac-Melbourne Institute Consumer Sentiment Index that was recently released.
State Treasurer Curtis Pitt believes this shows positive sentiment about the Queensland economy, employment levels and also strength in local businesses.
Property investment can be a sound first step
These [what conditions? all of the ones above? be clear] conditions are good for the wider population, but a new trend has emerged that will be particularly appealing to young people: buying an investment property as a first home. Doing this and continuing to rent has been reported by the Australian Financial Review as an increasingly popular method of creating wealth among Australians, and could be something that piques your interest.
While it is not for everyone, the aforementioned conditions could be the ground upon which you create a great investment strategy. This will likely require the aid of a wealth coaching and investment team, which is where we at Think Money can help you out. We specialise in helping people create stable wealth in the long-term.