Property Market Update
Well winter is over and the market is really starting to heat up at the lower price points. I spend a lot of time researching data and the markets, but by the time I’m reading about something it’s too late and the market has already moved. Quite often we see the movement first hand and then it’s reported in the media about 2-3 mths later.
As we predicted the local market in SE QLD is really starting to heat up. Our office in Hope Island is seeing a massive increase in activity and we’re also finding it very difficult to find land. At the moment in the more popular areas there’s about a 6mth wait to get land. So if you want land then we need to put down a deposit and then wait until about March next year before it’s ready to buy and then build on. There’s been about 6-7 years now of really slow and poor growth and this has caused the shortage of stock in the market.
At this stage the market is really strong in the under $500k bracket and very slow still if you go above the $1million mark. This is quite normal as the market always recovers at the lower end first and then grows up through the different price points. As such we’re hoping that there’ll be a good recovery in the higher price point in the coming 12mths.
We have a great relationship with a couple of developers and one of them is going to give us exclusive access to their price list before they release it to the public. As such if you’re looking at getting into an investment then give us a call as we may have some great land coming up in the next couple of weeks. It still won’t be ready to build on until March next year but at least we’ll get access to the best options.
Have a great day and bring on Summer!!