What are other factors making Queensland property investment great?
We've had a good hard look at the construction levels in the Sunshine State recently, which are providing great news for Queensland property investors by supplying a steady pipeline of new homes, ripe for investment. But of course, construction isn't the only factor that dictates what happens to the investment landscape, there are many others. So how are some other market influencers and signals looking for the the rest of the year?
Values looking vital
Increasing home values means more capital gains for investors, and a new release from the Real Estate Institute of Queensland (REIQ) from February 21 indicated good things for Brisbane. The REIQ report contained the vital detail that the Queensland capital's median home value went up by 7.6 per cent over last year, which means that if you already own an investment property, you might find a lot more equity has built up.
Fast sale is a good sale
The same REIQ release also had Brisbane pegged as a top performer in another area – the days a property spends on the market. The smaller this figure is, the better the market is looking as it means people are moving in quickly to buy properties and demand is high.
Over 2014, Brisbane saw a 20-day drop in how long a property is available for sale, which is more than anywhere else in the state. This wasn't just the best improvement, but it cements Brisbane as the fastest selling market in Queensland too.
Land is still cheap
Buying a home is a great way to develop a property investment strategy, but bodies like the Housing Industry Association are often concerned about whether or not there are enough houses in supply for investors and owners to buy.
Fortunately, a recent report from the Domain Group showed that in Brisbane, land prices are still lower than in Melbourne and Sydney. This could make it easier for people to build new apartment blocks or detached homes in the city, keeping up that healthy construction we mentioned earlier.
There's a huge range of options available to you when you decide how to set up your wealth, but investing in property can be one of the steadiest. The capital gains seen right across Australia in recent years set a great precedent, and with these conditions as they are in Brisbane, the stage could be set for the next phase in your own property investment plan.