Growth predicted in QLD: Industry expert’s analysis of Australian property market conditions
Research indicates the Sydney market reached its peak in the December quarter last year and sales activity has been on a gradual decline since then. However, growth is predicted outside of Sydney.
Here is a synopsis from Terry Ryder (Founder of Hotspotting.com.au):
- The number of Sydney growth suburbs is one-third of the number six months ago.
- Regional New South Wales is rising and has twice as many growth markets as Sydney does.
- Adelaide and Brisbane have both overtaken Sydney and continue to rise (but you won’t know it if you rely on median price data).
- Melbourne has faded a little but remains more buoyant than Sydney.
- Regional Queensland has almost as many growth markets as Brisbane does.
- The strongest market region in the nation, now, is South East Queensland, with Brisbane, the Gold Coast and the Sunshine Coast all busy.
- There are also markets in serious decline and they’re all locations that previously rose with the resources boom and were oversupplied by over-zealous developers.
Read the rest of the Property Observer article here.
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