Real estate investors in Kurwongbah have another reason to consider selling their houses this year, as the region emerged as the best-performing suburb in greater Brisbane.
CoreLogic said that the Moreton Bay suburb posted a 21.4 per cent increase in median home prices over the past three months. The median price amounted to $750,000, but six properties even sold more than that.
Other markets outside Brisbane also have the potential for higher home prices in the future, including Townsville. New homes in the area may be a sound investment for this year, according to Terry Ryder of Hotspotting.com.
While the suburb seems unappealing due to high vacancies, Ryder said that prices in Townsville have fallen in the past two years. Buyers that look for house and land packages should ignore the current situation in the region since there are “absolutely massive things coming up in its near future,” he said.
If you only intend to rent properties in Brisbane, you may find it hard to do so because of strong demand for rentals.
Rental demand from prospective tenants in Brisbane rose almost 24 per cent in the past 12 months. Figures from realestate.com.au showed that this continued in January when 1.2 million searches were already recorded on the website in just the first two weeks, according to the website’s chief economist Nerida Conisbee.
This simply means that you have limited time to decide about renting a property, especially if it is within 20 kilometres from the central business district. An increase in employment mostly drove people to look for rental properties, Conisbee said.
Are you planning to buy a house as an investment this year? Even if you have no plans of selling it in the future, building a new home on a vacant lot may be a better choice