The downturn in areas such as Melbourne, Sydney & Darwin have received a lot of press coverage in recent weeks but there has been little coverage that in Brisbane both house prices and rents are on the up.
On the 8th December last year the Courier Mail had a headline “Brisbane is Australia’s Quiet Achiever As Property Makes Surges To All Time High”.
The Real Estate Institute of Queensland market monitor revealed Brisbane’s median house price increased 2.3% in the past year to hit a record breaking $675,000
Brisbane house prices have risen almost 30% in five years thanks to steady sustainable growth making it one of the most stable capital city markets. REIQ Chief Executive Antonia Mercorella said Brisbane’s affordability, climate, infrastructure and liveability would continue to help it’s housing market grow.
Brisbane is undergoing dramatic change as more than $17 Billion in spending on 10 major projects propels Brisbane onto the world city status.
But what about Rents? Domain Senior Research Analyst Nicola Powell said recently “The Brisbane market is slowly turning to favour Landlords as underlying demand begins to absorb advertised rental supply. Available rental stock has been sliding since the end of 2017 and is now at a three and a half year low”.
If Labor win the upcoming federal election and introduce proposed changes to negative gearing, this will limit the number of houses built by investors, demand will exceed supply and rents will increase. So if you are thinking of the tax and wealth creation advantages of negative gearing, do something NOW before the rules change.
Steve Taylor is once again sponsoring the Classic Ambrose Golf Day on Saturday the 23rd February at Emerald Golf Club.
Teams of 3, with ex golfers & non golfers welcome to attend.There are some great prizes up for grabs this year. All three winners will receive a voucher for two people to stay two nights at Fairways Golf & Beach Resort Bribie Island plus a game of golf at Bribie Golf Club and also a game at Pacific Harbour.
To make a booking just call Emerald Golf Club on 4982 1274 and ask for the Pro Shop.
