The Gold Coast, Sunshine Coast and Brisbane regions are in for an amazing 2020, especially in property investment. The region is to maintain its steady and healthy market with interest rates expected to reduce further by mid-2020 and new infrastructure projects creating more job opportunities. It is the ideal time to invest in property.
Gold Coast
Investors from all over the country are taking advantage of record-low interest rates and are re-entering the real estate market. The Gold Coast region in the SEQ offers great value investment. Before 2019 ended, the Reserve Bank of Australia indicated they are eyeing to cut rates even lower in 2020. In October 2019, cash rate was at record low 0.75 per cent and Westpac Banking Corp expects that to go down to 0.25 per cent by June 2020. This will fuel solid capital gains for new and experienced investors in the country, especially in SEQ regions. The house pricing in the Gold Coast remains competitive and investors are bouncing back with access to lower mortgage rates. They are experiencing the best investment conditions in over 10 years. These conditions and financial parameters will continue to persist throughout 2020. That and affordability in residential properties resulted in more confidence among investors, first-time and experienced, to invest.
Sunshine Coast
The Sunshine Coast as well the Gold Coast offers affordable housing and improved lifestyle for families, professionals and retirees. Employment rate is high, great education standards, strong tourism and other factors will drive interstate migration to the SEQ. The Sunshine Coast is expecting more well-financed buyers from southern states. More and more Baby Boomers from big cities like Sydney and Melbourne are finding better property values in the Sunshine Coast and the Gold Coast instead of other regions in the country. They are going to leverage low-interest rates for lifestyle improvements and strong levels of equity in their existing residences. Another big factor influencing this is the growing trend of beachfront or waterfront properties. More buyers are looking to purchase properties and lands near the water for their retirement. The pricing on these properties remains high but reasonable. These rates are expected to increase and will give more room for less expensive properties to move forward. More people are advised to invest in properties located in the Sunshine Coast, especially young professionals. In some locations, the median house price is at $500,000 and even lower.
Brisbane
The Gold Coast and the Sunshine Coast are not the only SEQ regions performing well in the property market. With relative affordability and vacancy rates, Brisbane might get ahead Sydney and Melbourne in the property market by the end of 2020. In addition, there are also no expected sharp swings in the Gold Coast and Brisbane. According to the BIS Oxford Economics property forecast, Brisbane will achieve the greatest national gains in house prices after a couple of years. Correspondingly, median house price will increase to 20 per cent by 2022.
More Job Opportunities
Employment growth in the SEQ looks promising. New infrastructure and development projects are in motion and are generating job opportunities. In addition to that, low-interest rates and low unemployment, property demand will continue to rise in the coming months. Also, new dwellings and larger infrastructure projects are coming and will result in more jobs to be filled. That is why property investment offers more tangible value, especially to young professionals hoping to enter a long-term investment commitment. Parents are encouraging their kids to buy their own property or invest in one because of the buyer and investor sentiments.
Invest Today
OpenAgent’s Consumer Sentiment Report ranked Queensland’s consumer sentiment as the second-highest in the country. Therefore, it signifies that investors are more confident to invest with better market conditions like the low-interest rates, loosen loan restrictions and an upswing in value.2020 is just beginning and the property market of Australia is already on its way toward an upswing in value. If you are after monthly positive cash flow by renting out your property or planning to sell it after a couple of years, this is the ideal time to invest. Smart investors are choosing property investment and educated investors are choosing property investment in Southeast Queensland. If you are planning to invest in or buy property in any of the regions in the SEQ, Gallery Group is ready to help you with all the information and resources you need to make an informed decision. Click here to connect with a property investment specialist.
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