The Gold Coast ranks among the leading markets for luxury real estate in Australia, with Brisbane also maintaining its place
For the first time in its history, the Gold Coast has carved out a place among the world's best markets for high quality residences.
The Queensland superstar ranked 27th out of 46 in Knight Frank 's Prime Global Cities Index for the second quarter of 2019, recording an annual growth of 1.1% in price. Luxury real estate at the end of June 2019. The report states that this "reflects the stability and depth of the market". the city's well-established luxury housing market. Many residential projects are in the process of reducing expenses with money to spend, which is a good sign for this market.
Employment opportunities also fell slightly in the region, with an average vacancy rate of 2.8%, according to the June 2019 report on vacancy rates by the Real Estate Institute of Canada. Queensland. This means that the rental market of the Gold Coast is in good health for the first time in ten quarters.
However, one should not overlook the capital of the Sunshine State, which was second only to Sydney and had overtaken Melbourne in the Prime Global Cities Index, with a 20th position after a 2.2% growth over the luxury market in one year. -year. In the LGA Brisbane, vacancy rates were also satisfactory (2.8%), as were those in Inner Brisbane (3.3%). Things were still tense at the center and outside of Brisbane.
According to local property managers in the Brisbane metropolitan area, even though there is an overabundance of units in this market, demand is increasing to absorb more and more stocks. Median rents for dwellings and townhomes also increased in the 12 months to March 2019.
Kate Forbes, National Director of Metropole Property Strategists, attributes Brisbane's recent positivity to an improving economy that is driving growth in the southern states, coupled with attractive rental returns at an affordable price.
"The economy of Brisbane relies on large projects such as Queen's Wharf, HS Wharf, TradeCoast, Cross River Rail, the second landing strip and the coal mine. Adani, even if the growth of employment will not really be launched. years old, "she says.
"But with rising migration rates, supply management and the generally affordable level of housing, the fundamentals of the Brisbane housing market seem to be healthier than those of most other capitals."
BANK PROJECTOR
MCDOWALL: The units are in place, houses down
The McDowall unit market had a good year, but homes did not, as prices fell 4.6% in the 12 months to July 2019.
Known as the cradle of the Raven Street Reserve bush nature reserve, the suburb is just 9 km north of the Brisbane CBD. Houses and units both grew in 2016, and the unit market maintained this positive trend until July 2019, with rental properties generating a return of 5.3%.
Despite lower prices, demand for home rentals was strong and rents jumped 5.8% to a weekly average of $ 550. Added to this is an average rental yield of 4.3%.
Location: McDowall is located only 9 km north of Brisbane CBD
Units: The unit market performed well from year to year in July 2019
Top suburbs:
tank
,
emerald
,
crossing of ropes
,
Toowong
,
Belmont
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