How do people feel about the property industry?
Feeling good about property investment in Queensland? Or paralysed by uncertainty regarding how to roll out your strategy? As the real estate market goes up and down, it's easy to get bogged down in the numbers and feel unsure about whether it's the right time to buy.
But what's important to remember is that property investment will almost always bring home the bacon in the long term. According to the Queensland government, the house price index for Brisbane has more than doubled between 2002-2003 and today.
But how do you know when it's the right time to jump in and start making capital gains without breaking the bank? Looking at new confidence statistics, it could be now.
Still room to improve
ANZ and the Property Council of Australia have compiled their latest survey of 2,200 Australians on their attitudes towards the property market, and results are fairly good. While New South Wales leads the way (as it is wont to do), Queensland remains in line with the national average, growing in positivity as we go along.
Curtis Pitt, state treasurer, has stated his pleasure with the result, especially as it's on the way up from previous surveys. This suggests that as confidence swells, more and more people might take to property investment. Will you wait for a big surge, or are current conditions enough to have you dipping your toes?
Larger projects to boost the industry
As Chris Mountford from the Queensland division of the Property Council noted, the real estate industry is the biggest sector in the state. As such, it needs support to continue growing. He called for new planning laws, a fresh regional plan for southeast Queensland and a new outline for infrastructure development to be top priorities for the state government.
"New homes can be fantastic for generating capital gains"
Mr Pitt responded to this by highlighting major projects already underway and on the cusp of commencement in popular centres. This included the Queens Wharf and Herston Quarter works in Brisbane and the ASF over on the Gold Coast.
While not quite what the Property Council was hoping for, these projects could underpin further growth in confidence. More infrastructure brings jobs and economic growth, which can go hand in hand with development of new real estate. This can prove vital for a property investment strategy, and new homes can be fantastic for generating capital gains.
If you're part of the growing confidence levels, make sure to get in touch with one of our wealth creation experts to develop a clear plan for the future.