2018 McGrath Report – Thumbs Up for North Lakes
The 2018 McGrath report, released recently has good news for North Lakes. In his annual assessment of the property market, John McGrath reports on property predictions and his top suburb picks.
There have been more reports confirming my prediction of the “spillover effect” causing migration from Melbourne and Sydney to Brisbane. Macquarie Bank recently predicted an $8 billion exodus from Sydney to Brisbane and Southeast QLD housing markets, equivalent to 25% of current turnover.
They said, “The emerging exodus is part of Australia’s latest wave of interstate migration to Queensland, where house prices are half those in Sydney and job creation is on the rise. When similar factors were at play in the mid-1980s and mid-2000s, an average 134,000 people made the trek north over a three-year period. They were mainly from New South Wales, Macquarie said.”
This interstate migration will leave the Australian economy in better shape.
Selling high down south and buying low up north will help curb mortgage-driven debt. This will be a key deterrent for central bank rate hikes and will strengthen the national property market by spreading housing equity around the country.
READ MORE ARTICLES LIKE THIS?
Visit our Property Investment and Real Estate Category on our blog.
Download your Free Residential Investment Checklist.
Other Pluses for North Lakes
RACQ is now in the banking business and has selected Westfield North Lakes for the launch of their first concept store.
As a bank branch, there will be differences. In place of traditional tellers and private rooms, members can enjoy casual seating on a boardwalk surrounded by trees, a breakfast bar, and a courtyard. What a great concept!
Until next week …
Steve Taylor
If you prefer to listen here is my radio interview on Emerald 4HI:
DISCLAIMER
Steve Taylor & Partners blog is opinion and not advice. Readers should seek their own professional advice on the above subject. The figures stated in this article were accurate at the time of publication. For up to date figures, please contact our office.
Fill and Submit this form for your Free Residential Checklist.