Brisbane’s annual median house price hit a new record of $670,000 over the March quarter, according to the REIQ.
The REIQ’s March quarter Queensland Market Monitor found that against a backdrop of cooling prices in Sydney and Melbourne markets, Brisbane house sales were buoyed by steady population growth driving demand and underpinned by good economic fundamentals.
In this market, we could potentially see a rise in off-market sales as eager buyers pressure sales agents to see property before it hits the market.
The unit market on the other hand eased over the 12 months to March 2018, lost 2% off the annual median price.
Queensland has become the number-one destination for internal migration, taking over from Victoria in the latest ABS Census data, and the overseas migration is at its highest level in years, which means demand for accommodation will continue.
The rental market is operating in the healthy range, with balanced vacancies for the March quarter and rising demand levels easily absorbed almost 3,200 new rental properties hitting the rental pool this quarter.
Getting high returns in Brisbane with high potential for capital growth — How to do it
With Brisbane prices now moving ahead while Sydney and Melbourne are declining, investors are starting to gain insight as to where the market can be expected to move. With this in mind, investors can hit a goldmine of returns.
With the right strategies, there are areas where you’ll get the capital growth and if you implement correctly, will get positive cash flow as well.
So, let’s say a 4-bedroom house will produce an income of $400 per week. If you invest in a dual income property of, say 4 bedrooms plus one bedroom, you would end up with a total rent of $600 per week. I.e. 50% higher.
Effectively, investors are building houses for families and for singles and couples in the one property. So, you are appealing to and satisfying the needs of two markets.
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