The Sunshine State still has regional pockets, as Brisbane lags behind in terms of noticeable growth
The Southeast regions continue to offer their best investment options for Queensland.
"Southeastern Queensland, as well as some areas, look promising in the near future. The resource sector seems to be getting ready, with several major infrastructure projects in the pipeline, "said Ian Hosking Richards, CEO of Rocket Property Group.
The Gold Coast remains active, with CoreLogic's auction market review for June 2019 indicating that this area was the busiest among non-capital city markets during the June quarter.
However, all areas outside the metro are not expected to perform well, as indicated by the CoreLogic Real Estate Value Index for June 2019. The Queensland Outback has one the country's worst housing markets due to natural factors such as drought and floods.
Meanwhile, although the capital is not currently experiencing strong growth, various initiatives have been taken to move things forward.
"There are impressive civil engineering projects in Brisbane that have already started or are preparing for the near future. As in all regions of the country, the lack of credit is hindering the real estate market and will continue to do so until restrictions are eased, "said Hosking Richards.
During the period ending June 2019, the Brisbane rental market experienced a turnaround, with rental rates rising after a period of decline. According to CoreLogic's quarterly rent report released in June 2019, Brisbane is one of the two capitals to have recorded a year-over-year increase in rents compared to 2018. The average yield also increased from 4, 4% to 4.6% during the same period.
For the time being, Brisbane continues to attract the attention of buyers whose prices are based on more expensive markets, such as Sydney and Melbourne. According to Herron Todd White's July 2012 report, a budget of $ 500,000 would go far enough in that state, and the option of housing in a second home is an option in the middle and outer suburbs.
Closer to the CBD, where excess supply is a problem, this amount could allow a buyer to benefit from a product unit. The Gold Coast, Tweed Coast and Lower Logan also have a wide range of properties at this price level, including an area and units located on the beach.
SUBURB OF WATCH
AUCHENFLOWER : The urban suburb defies the negative trend
Brisbane may not have been the most successful in terms of capital growth in recent years, but the suburbs of downtown Auchenflower seeks to counteract this trend, as the value of homes increased between 12 months and June 2019.
The median home price at Auchenflower reached $ 1 million, following a 4.1% increase over this period. This maintains a reported growth trend over the last five years. For units, however, the 2.1% gain in value was the first positive market movement since before 2014. Rents also rose 1.3% to an average of $ 380 per week.
Residents enjoy the ideal location of Auchenflower only 2.5 km from Brisbane CBD.
Location: Auchenflower is conveniently located minutes from the Brisbane CBD
Growth: The suburban unit market breaks the cycle of negative growth with a rise in values of 2.1%
tweed is heading south
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