Queensland Top Pick For Property Invement
The Sunshine State has emerged most popular over the past 18 months.
The Sunshine State has emerged most popular over the past 18 months.
Interest in property investment in Queensland is on the up according to a new report that highlighted the state as Australia’s number one property investment location.
The 2021 Property Investment Professionals of Australia (PIPA) Investor Sentiment Survey found the sunshine state the best place to buy based on strong market conditions and overall sentiment.
According to the report, 58% of investors believe Queensland offers the best property investment prospects over the next 12 months – a figure that’s lifted 36% in the last year.
While things look sunny up north, New South Wales was second at 16%, down from 21% the year prior and Victoria third at 10%, down significantly from 27% last year.
The result, which steals the spotlight away from major markets Sydney and Melbourne, shouldn’t come as too much of a surprise with the Brisbane median house price rising 19.2% since the start of the year according to CoreLogic.
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After more than a year, prices have finally levelled out in prime central London, while outer London saw a small uptick in high-end prices from the previous quarter
The first quarter of the year brought some long-awaited signs of recovery in London’s luxury housing market, offering the first positive quarterly price growth since September 2022, according to a report from Savills on Wednesday.
After six consecutive quarterly price falls, luxury home prices in central London levelled out in the first three months of the year, with a 0.1% quarterly uptick in prices. The £3 million to £5 million (US$3.79 million to US$6.32 million) market saw a slightly larger increase of 0.3%.
Outer London’s luxury market saw greater quarterly price growth, with home prices up 0.8%, as some stability returned to mortgage costs and lured more buyers back to the market, according to the report.
All of this is evidence that the market is “in early stages of recovery,” according to Lucian Cook, head of residential research at Savills.
“The outlook for the housing market has certainly improved, partly because the mortgage market has recovered more quickly than expected,” Cook said in the report. “With the first rate cut rapidly coming into view and recessionary risks easing, greater stability has returned to the cost of mortgage debt, which has positively impacted domestic prime markets, where many buyers rely on borrowing, most notably in leafy outer prime South and West London, as well as the commuter belt.”
Outside of London, prices across the U.K. saw no quarterly growth heading into the beginning of the spring market, which is expected to bring higher levels of buyer activity in many regions.
Suburban regions saw prices dip just 0.1%, while urban areas—like Edinburgh and Glasgow in Scotland, and Bath and Oxford in England—saw prices increase by 0.6%.
Cook said regional buyers are more likely to be concerned about market uncertainty than London buyers in the lead up to the general election.
“As a result, buyers are still expected to be less committed until the dust has settled,” he said.
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
This stylish family home combines a classic palette and finishes with a flexible floorplan