Direction in Brisbane Property Investing
There is no question that Queensland investment interest has shifted into high-density housing as well as urban housing. Both unit-style housing as well as townhomes are seeing increased buying activity as investors move money into these type of properties for long-term income positions. Townhouses and units have been sitting at very affordable pricing over the last few months, creating a number of property attractions for savvy buyers.
To put numbers to anecdotal statements, the Queensland region has experienced a 40 percent boost in sales transactions on high density properties when comparing September 2012 figures to the previous year-to-date statistics. There was particularly hot movement on the under $350,000 value category, seen by many as quite affordable.
For Brisbane in particular, the unit and townhouse property is still, on average, higher in cost than surrounding areas, sitting at $405,000. This of course makes such properties a bit less appealing versus other locations, but even with this difference in mind investors are still moving in. Unit properties have been slowly seeing an increase in price offerings as demand has picked up, notching the average up by a slight 0.3 percent versus the previous year’s figures.
For many watching real estate investment in Brisbane and similar, if the trends continue to stay on their path, this year’s Brisbane costs may seem like a bargain in a year or two when purchasing high-density housing. For those with ready cash in hand, the opening of 2013 during the summer months may be the best buying time of the new year for the foreseable future.
Even though home values fell overall in 2012, there is improvement and actually quite dramatically from the year before. RP Data figures show capital city dwelling values fell by 0.3 per cent over the month of December but RP Data senior research analyst Cameron Kusher says the results are pleasing when compared to the 3.8 per cent drop in home value seen in 2011.
“Capital city home values remain 5.7 per cent lower than their historic highs of November 2010, however, dwelling values are up 1.8 per cent from their low of late May 2012,” he said, and:
“Home values in Brisbane, Perth and Hobart remain below where they were five years ago, whereas the other mainland cities have all recorded significantly lower rates of growth in home values over the past five years than they did over the preceding five year period,”
So definitely OPPORTUNITY for investors now!