Sales for new Queensland homes surging forward
Making the leap into Queensland investment property can be a fruitful exercise, especially if you put together a great wealth creation strategy with the help of trusted advisers and coaches. Placing your money into a new home can produce not just capital gains, but also rental yields to supplement income. Done correctly, it can become a very valuable source of funds for you as the years pass by.
And according to the latest release from the Housing Industry Association (HIA), a lot of people are currently getting on board with this type of investment – especially in Queensland.
Consecutive months of growth
The HIA New Home Sales Report has shown that for two consecutive months, the number of sales of new properties in Australia has increased. This figure went up by 2.2 per cent in November last year, which came straight off a 3 per cent rise the month before.
This means more and more people are flocking to new homes as their chosen property, and this is particularly obvious in Queensland. In November, detached new home sales went up a whopping 16 per cent, which is far more than any of the other states. The HIA did say that multi unit constructions saw a lot of growth too, so people are not being particular about investing in standalone properties.
Clearly, many people are choosing property for their wealth creation strategy. But will this continue?
Ongoing growth in 2015
The Real Estate Institute of Australia revealed recently that new dwelling purchases across the country kept on rising in December, but not significantly. The organisation also wants interest rates to come down, and is urging the RBA to take action to make this happen.
An interest rate cut would make it that much easier to secure a home loan – and depending on the type of loan, lower repayments for the low interest period. This will be great news for anyone who wants to get pre-approval for a loan or maybe wants to renegotiate the terms of their current loan.
As IBISWorld noted early in January, low interest rates mean people can refinance a mortgage, which can be a good way of freeing up funds to buy more new homes. Creating a portfolio of investment property in Queensland takes time, but can be well worth the wait. With stable increases in price and an ongoing flow of sales, property might be looking more and more attractive by the day for you.
Picking the right investment strategy may require the help of a wealth coach, to work out what your assets and goals should be.