Why investing in Queensland is a sensible decision
As the Sydney and Melbourne property markets continue to mature, interstate buyers are becoming increasingly interested in Queensland. We know that Queensland is offering a more competitive market for first time buyers and investors looking to grow their portfolio, but what else makes the sunshine state a smart investment decision? Let’s take a closer look into why investors should look to Queensland for their next purchase.
Housing is more affordable
Queensland’s statewide median property price is approximately $620,000 with New South Wales being upwards of $900,000. This means there is a substantially lower entry point for home buyers, as well as investors. It also provides interstate investors the opportunity to diversify their portfolio.
Affordability for buyers has a flow on effect for tenants, making renting far more affordable than Sydney and Melbourne. That being said, rental yields in Brisbane have proved to be stronger than that of Sydney. According to recent Domain Group figures, Sydney rental yields are sitting at 4.1 percent for houses and 3.3 percent for units, compared to that of Brisbane where the yield is 4.8 percent for houses and 5.1 percent on units.
There’s a development surge
Median property prices in Sydney increased by 7 percent in 2012-2013 to 17 percent in 2013-2014, and Brisbane also recorded strong growth of 5.6 percent in 2013-2014 to 17 percent in 2014-2015. A large portion of this growth is thanks to the property surge Brisbane has seen over the past 5 years. In Brisbane in particular, there is an abundance of luxury, resort and hotel style developments with the highest quality amenities. These developments now commonly feature rooftop pools, gyms, cinemas, recreational dining areas and BBQ areas making them hugely attractive to buyers and tenants.
It’s a healthy state
Queensland is a classed as a healthy state by definition due to its low unemployment rate and its growing population. It also has significant sporting arenas, universities, technology development, tourism and an airport that is set to become the second international hub in the country. With the Commonwealth Games heading to the Gold Coast and Brisbane in 2018, the city is booming with new infrastructure and recreational facilities.
It’s beautiful
There’s a reason why they say Queensland is “beautiful one day, perfect the next”. Home to some of the most stunning beaches in the world, and offering an all-year-round outdoor lifestyle, Queensland is highly sought after by many overseas investors who appreciate the wonderful atmosphere the state has to offer.
To discuss investment opportunities in Queensland, contact CPS Property today.
