Property for sale in Queensland
Are you deciding to buy a property for sale in Queensland?
It is an Australian state in the north-eastern part of the continent, with a coastal strip covering approximately 7,000 km. The Great Barrier Reef is the largest coral reef in the world and it is home to thousands of marine species. The city of Cairns is the starting point to visit not only the coral reef, but also the rainforest of Daintree. Around the capital, Brisbane, are the famous surfing beaches of Gold and the Sunshine Coast.
The real estate market of QUEENSLAND is destined to lead the country for the growth of capital in the next two years.
The latest periodical survey conducted by National Australia reveals that the sector expects that property for sale prices in Queensland will increase by 0.7% in the next year and increase by 1.3% in two years.
Areas destined to enjoy above-average growth over the next year include Brisbane, Cairns, the Gold Coast and the Sunshine Coast, with Coomera and New Farm identified as suburbs that should outperform.
The outlook for rents in the state is also positive, and they are probably exerting upward pressure on yields.
Despite the stricter restrictions on real estate investments, the number of local investors in the new real estate markets has been particularly active in the state with over 32% of buyers in this market in the second quarter of 2018.
The appetite of foreign buyers for properties for sale fell in all states, with the exception of Queensland, where the share of sales to that market jumped to a maximum of four years by 22.8% in the last quarter.
Foreign buyers of property for sale in Queensland accounted for 5.4% of all residential property sales in the three months to 30 June.
The BIS sector forecast Oxford Economics predicted that Brisbane would experience the highest growth in house prices of all capitals for the next three years, rising by 13%.
The improvement of Brisbane's economy and population growth would have kept it isolated from the imminent correction of property in neighbouring cities.
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