Now the dust has settled on the Federal Election and with negative gearing here to stay for at least the foreseeable future it could be time to consider where to acquire your next property investment.
Queensland has a great climate, magnificent beaches, world heritage listed rain forests and a thriving economy. This all adds up to a fantastic lifestyle.
The southern part of the state is where a lot of the activity happens, especially in the capital of Brisbane.
Brisbane has often been left behind by its southern neighbours Sydney and further south Melbourne, but with so much going for this city and state I asked the question, is Brisbane the next property hot spot?
Here are five reasons why you could consider your next property investment in Brisbane
- Affordability: as its southern neighbours property markets have boomed over the last few years it has put ownership in Sydney and Melbourne out of reach of many first home buyers, Brisbane offers a cheaper entry point into the market. With plenty of employment opportunities, I can see many young couples migrating north to enjoy the lifestyle and also enabling affordable home ownership. Also retirees seeking a change of lifestyle and warmer climate can get value for money in south-eastern Queensland..they can sell their properties down south and buy up north and still have change left over to help fund retirement.
- Population growth: according to the Queensland government, population projections for greater Brisbane are projected for the city to remain the most populous region in Queensland, increasing from 2.15 million persons in 2011 to 3.44 million in 2036. The Gold Coast is projected to have the second largest population in 2036 increasing from 529,000 to 922,000 persons in the twenty five years to 2036. Demand and supply will ensure capital growth long term.
- The economics: Queensland regularly leads the nation in job growth and with shortages predicted in the coming years in both white and blue collar industries such as construction, hairdressing, nursing, mechanics, engineering, education, physiotherapy, welding, medical diagnostics and hospitality there are great opportunities and incentives to move north for both young and old. Queensland is the favoured holiday destination for Australians with the Gold Coast being named the number one holiday spot, with increasing numbers from across Asia, Europe and the US travelling to Queensland for holidays which provides jobs and stimulates economic growth.
- Property cycle: Brisbane is in a different phase of the property cycle and at a different stage to Sydney and Melbourne which in my view is at the top end. I believe Brisbane still has room to move.
- Lifestyle: The weather is warm, the sun shines often, the beaches are beautiful and clean and there are great restaurants along with suitable transport and infrastructure. It is well policed and governed, school options are aplenty, with both private and public, and a great culture exists among the Queensland people. Sounds like a good place to live let alone invest?
For further information about how Chan & Naylor can help assist you visit www.chan-naylor.com.au or phone 1300 250 122.