Queensland Australia Gold Coast and Brisbane property markets continue to recover

 

The Chairman of Herron Todd White Valuer’s Gavin Hulcombe recently said that real estate across the Gold Coast and Brisbane markets will continue to recover from the low values and sale numbers of the past half-decade.

 

Hulcombe believes the current level of affordability rivals that of 2002, just prior to the 2003/2004 property value rises.

 

He says there’s already been good growth in suburbs close to Brisbane’s CBD, and the ‘ripple effect’ should result in better performance for suburbs further out, with growth of 5 to 10 per cent over the last five to six months in some inner suburbs.

 

There has been a move away from the pure low-cost driven attached housing stock in the capital city too, with buyers becoming more discerning and paying a slight premium for a bigger property with a better location and with better appointments.

 

All this points to growth across the market which should be solid and sustainable;  The Australian economy is in a “growth recession” with past policymakers overestimating the sustainability of the mining boom and overcompensating in their policy decisions.

 

It is likely that interest rates will remain low for the next two to three years at least, and this would be a very good thing for the property market.

 

Obviously it’s going to be the housing sector that, for the first time in five years, we will be relying upon to get us out of this growth stagnation period and back on top.

 

All in all the future looks bright and promising… that’s if you don’t miss the boat…