Is this the year to invest in a Queensland property?
When it comes to Queensland investment property, there are many options at your disposal. From apartments in central Brisbane to more casual villa-style property further up the coast in Mackay, it is possible to make capital gains through a wide range of real estate, if you choose to invest.
Making the most from your investment should be a top priority goal, and that's why you have to make sure you are buying into areas brimming with growth – here are some guiding points if investment property is up your alley.
Building boom swings to regular homes
It's been clear that Queensland saw strong growth in multi-unit building construction over the last year, and now there is some really great positivity coming through for detached housing as well. In fact, figures from the Housing Industry Association (HIA) showed that approvals for the construction of detached homes increased by 14 per cent between the end of 2013 and 2014 – definitely not a boost to be sniffed at!
This means there is likely to be many more homes coming onto the market this year, giving anyone with an interest in real estate investment a wonderful opportunity to get on board.
Encouragingly, between 2013 and last year, detached home approvals rose by nearly a third in Greater Brisbane, and by nearly 50 per cent on the Sunshine Coast! Meanwhile, figures from the Real Estate Institute of Queensland said that sales for both units and townhouses bumped up 11 per cent in Brisbane.
No matter what type of housing you're after, make sure to put a pin in these areas on your map when you search for your next great investment.
Construction near the top of the nation
The amount of building going on in Queensland has been backed up by other people as well. CommSec's State of the States report recently showed that Queensland's construction hasn't just been good in the last year – it's well above averages stretching back right across the decade. This shows just how good 2015 could be for many new homes for investment. More home building means more opportunities for you when it comes time to put your money where your heart is, and invest in real estate.
So not only is Queensland performing well for new residential dwellings coming up in the last year, it is a strong performer when you consider the long term.
Implementing the right property investment strategy means working out where the growth is – and right now, the statistics suggest that is in housing in Queensland.