So…how’s the market going? If you own property or are considering buying or selling this is a question that I’m sure you have asked often. The answer to this question is, it depends…..
It depends on several things starting with, which market are you are in?
There are approximately 450 suburbs in Brisbane and surrounding areas so that means that essentially there are over 450 micro markets and they are all a little different in their dynamic and desirability and they all perform differently.
The second thing to consider is what type of property do you own? There is a big difference in demand between stand-alone homes and a unit or townhouse.
The third thing to consider is your own personal circumstances. Will the sale or purchase of a property improve your life? So next time you ask the question, be more specific and don’t just listen to the doom and gloom reports that are streaming out of the media because you might just miss out on a great opportunity.
For example, if your interest lies in the Moreton Bay region, we are experiencing the strongest demand for property that we have for more than 12 months. Some of the reasons for this demand are because of:
– interest rates,
– the outcome of the banking royal commission,
– the outcome of the recent federal election.
Another major driver is infrastructure and population growth.
So, what does this mean for you? If you are selling you could expect a good price for your home and plenty of competition. If you are buying, you can feel confident that the market will continue to grow for many decades. As an investor….you can expect a good return on your investment and along with owner occupiers you will enjoy strong capital growth into the future.
The Moreton Bay region is one of the fastest growing regions in Australia and if you would like to learn more about our beautiful region click here to view the Moreton Bay Region Economic Development Action Plan