Conversion rate for Queensland property looking good
Seeking the appropriate property requires patience, and knowing where to look – just like any good treasure hunt. The right wealth coaching can be vital to help you put a property investment strategy in place, as it teaches you some of the important rules. Firstly, spending on property is one step in a long term wealth creation plan. Beyond this, there is a lot to learn, one factor being the value of knowing where property is cropping up.
When you work out where new real estate is coming up in Queensland, you can move into the market with an advisor and make snap up a fantastic deal.
Southeast a hotbed of activity
In an April 13 media release from the Housing Industry Association, executive director Warwick Temby noted that approvals for all kinds of dwellings made phenomenal increases between the February quarters of 2014 and 2015. This was particularly true for units – the number of apartments given the go-ahead increased by almost one third!
So obviously, many more Queenslanders are being given the green light for building property. That presents you with many more potential options for buying. But approvals alone do not a real estate market make! After being given the go-ahead, red tape has to be cut through and construction has to actually begin.
Start me up
Master Builders Australia (MBA) dissected the latest building construction commencement figures from the Australian Bureau of Statistics, and deputy executive director of the organisation Paul Bidwell thinks the state is climbing back to pre-GFC levels of construction – the best conditions in up to eight years!
This means that we're not just seeing way more buildings being approved for construction – people are following through and actually putting the bricks and mortar together more than we've seen since about 2007.
Sometimes the numbers can be overwhelming, but the base point should be clear – there's a smorgasbord of new homes on the way for the Sunshine State. That means when you come to us with plans to invest, we've got more options to bring to the table. Variety is the spice of life, and there's plenty of it in the air.
To find out more about planning for property investment, make sure to contact us here at Think Money. More property doesn't necessarily make it easier for you to know which home is going to suit your financial goals – but that's where we can help you out.