Investors flock to Queensland to cash in on hot property market
Oct 2021Karen Millers
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The Sunshine State has been named the top spot for investors to buy for the next 12 months, as those seeking a sea or tree change head for regional Queensland.
New research indicates that Queensland’s ‘robust’ market conditions and record sale prices aren’t going anywhere any time soon.
The Property Investment Professionals of Australia (PIPA)’s latest survey named Queensland as the number one property investment location over the next year.
The results revealed that a ‘staggering’ 58% of investors believe the Sunshine State offers the best prospects over the next year. This is up from 36% last year.
Brisbane topped the list as the best spot to buy, with 54% of respondents believing the state’s capital will have the best investment prospects.
Image Property Director of Sales Adam Empringham said southeast Queensland has had ‘super strong’ demand from buyers.
“There is no question that market conditions in the southeast are the best they have been for more than a decade, which is a situation that is showing no sign of abating,” Mr Empringham said.
“Since the start of this year, the median house price in Brisbane has soared an extraordinary 19.2%, with units also increasing in value by 8.3% over the same period, according to CoreLogic.”
He said another reason prices are ‘skyrocketing’ is due to the persistent undersupply of properties available, as stock has reduced by 32% this year alone.
For investors considering relocating, regional Queensland was one of the most popular locations.
Investors looking to buy in coastal and regional locations have risen markedly since last year, according to research.
“The Sunshine Coast market is red-hot with properties selling at the first open for inspection, or for record prices under the hammer, to investors and homeowners alike,” Mr Empringham said.
“In fact, the coast is experiencing a new record low number of property listings, according to SQM Research, which is pushing prices ever higher.
“The total number of property listings on the Sunshine Coast has fallen a further 37% over the year to September, with asking prices up more than 17% as a result.”
Rachel Horan, Savings.com.au, 18 October 2021
https://www.savings.com.au/news/queensland-number-one-property-investment-location
