Property prices in Queensland
Oct 11th 2003, 7:49 pm
#1
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Property prices in Queensland
Gulp, first post nerves...
...I guess this is a question for the already settled expats in Queensland and in particular the Brisbane area. I'm heading out this November with some funds from a house sale in the UK. What's the feeling over there with regard to house prices in Queensland? They seem to be going up at an amazing rate and their appears to be a mad stampede to buy something - anything before its too late. Is the concensus that this is going to continue and so its worth getting in quick, or is their the possibility of an interest rate rise on the horizon which might settle things down or even bring prices back down? Million dollar question I know - its just difficult to get a feel for these things when you're still over here.
...I guess this is a question for the already settled expats in Queensland and in particular the Brisbane area. I'm heading out this November with some funds from a house sale in the UK. What's the feeling over there with regard to house prices in Queensland? They seem to be going up at an amazing rate and their appears to be a mad stampede to buy something - anything before its too late. Is the concensus that this is going to continue and so its worth getting in quick, or is their the possibility of an interest rate rise on the horizon which might settle things down or even bring prices back down? Million dollar question I know - its just difficult to get a feel for these things when you're still over here.
Oct 11th 2003, 10:04 pm
#2
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This is my view from living here quite a while.
Queensland has the biggest influx of migrants (interstate migration), is also the biggest growth state in OZ. Developers are 'drip feeding' land onto the market pushing up demand and prices higher with every stage.
I have read figures that clearly show many more people are expected to arrive in the next 10 years than land can be developed. Houses here are still very cheap compared to Sydney and Melbourne so plenty of room for growth. Qld has boomed for 2 years, Sydney and Melbourne 7/5 Years.
Government is concerned about Australian Debt and always does the Interest rates will go up speel to try and calm borrowing. However this country depends on exports cheap ones and pushing rates up pushes up the dollar which the gov does not want, it hurts exports and farmers and componds the effects of the drought. So they may go up but it will only be a little bit, OZ would be hurt by big rises. They are in a catch 22 situation.
As for aussies, they love houses, they totally got burnt in the share market, superannuation has lost most people a small fortune so what do they want Houses.
Steer clear of apartments, no so popular here and too many being developed, buy houses in good areas which you have studied. EG, I bought in Buderim, why, cooler temps than inland, 5 minutes to beach, good schools, extremely green and attractive, and limited land for development. Buy near beach too, they are not making any more of those are they? Inland can be OK, growing towns tho please, look at what development is coming in people here want facilities. And watch your aspects, dont buy West facing you will boil, check out western suburbs carefully, they can become Pom orientated, but the Aussies are in the know, one hot summer and those places are a bit harder to sell.
Do I think prices will drop, a big resounding NO. They may not continue on at 30%+ a year, but there is way too much demand over supply. All comments are based on SE QLD, each state is very different.
Queensland has the biggest influx of migrants (interstate migration), is also the biggest growth state in OZ. Developers are 'drip feeding' land onto the market pushing up demand and prices higher with every stage.
I have read figures that clearly show many more people are expected to arrive in the next 10 years than land can be developed. Houses here are still very cheap compared to Sydney and Melbourne so plenty of room for growth. Qld has boomed for 2 years, Sydney and Melbourne 7/5 Years.
Government is concerned about Australian Debt and always does the Interest rates will go up speel to try and calm borrowing. However this country depends on exports cheap ones and pushing rates up pushes up the dollar which the gov does not want, it hurts exports and farmers and componds the effects of the drought. So they may go up but it will only be a little bit, OZ would be hurt by big rises. They are in a catch 22 situation.
As for aussies, they love houses, they totally got burnt in the share market, superannuation has lost most people a small fortune so what do they want Houses.
Steer clear of apartments, no so popular here and too many being developed, buy houses in good areas which you have studied. EG, I bought in Buderim, why, cooler temps than inland, 5 minutes to beach, good schools, extremely green and attractive, and limited land for development. Buy near beach too, they are not making any more of those are they? Inland can be OK, growing towns tho please, look at what development is coming in people here want facilities. And watch your aspects, dont buy West facing you will boil, check out western suburbs carefully, they can become Pom orientated, but the Aussies are in the know, one hot summer and those places are a bit harder to sell.
Do I think prices will drop, a big resounding NO. They may not continue on at 30%+ a year, but there is way too much demand over supply. All comments are based on SE QLD, each state is very different.
Last edited by dotty; Oct 11th 2003 at 10:11 pm.
Oct 12th 2003, 4:50 am
#3
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Originally posted by dotty
This is my view from living here quite a while.
Queensland has the biggest influx of migrants (interstate migration), is also the biggest growth state in OZ. Developers are 'drip feeding' land onto the market pushing up demand and prices higher with every stage.
I have read figures that clearly show many more people are expected to arrive in the next 10 years than land can be developed. Houses here are still very cheap compared to Sydney and Melbourne so plenty of room for growth. Qld has boomed for 2 years, Sydney and Melbourne 7/5 Years.
Government is concerned about Australian Debt and always does the Interest rates will go up speel to try and calm borrowing. However this country depends on exports cheap ones and pushing rates up pushes up the dollar which the gov does not want, it hurts exports and farmers and componds the effects of the drought. So they may go up but it will only be a little bit, OZ would be hurt by big rises. They are in a catch 22 situation.
As for aussies, they love houses, they totally got burnt in the share market, superannuation has lost most people a small fortune so what do they want Houses.
Steer clear of apartments, no so popular here and too many being developed, buy houses in good areas which you have studied. EG, I bought in Buderim, why, cooler temps than inland, 5 minutes to beach, good schools, extremely green and attractive, and limited land for development. Buy near beach too, they are not making any more of those are they? Inland can be OK, growing towns tho please, look at what development is coming in people here want facilities. And watch your aspects, dont buy West facing you will boil, check out western suburbs carefully, they can become Pom orientated, but the Aussies are in the know, one hot summer and those places are a bit harder to sell.
Do I think prices will drop, a big resounding NO. They may not continue on at 30%+ a year, but there is way too much demand over supply. All comments are based on SE QLD, each state is very different.
This is my view from living here quite a while.
Queensland has the biggest influx of migrants (interstate migration), is also the biggest growth state in OZ. Developers are 'drip feeding' land onto the market pushing up demand and prices higher with every stage.
I have read figures that clearly show many more people are expected to arrive in the next 10 years than land can be developed. Houses here are still very cheap compared to Sydney and Melbourne so plenty of room for growth. Qld has boomed for 2 years, Sydney and Melbourne 7/5 Years.
Government is concerned about Australian Debt and always does the Interest rates will go up speel to try and calm borrowing. However this country depends on exports cheap ones and pushing rates up pushes up the dollar which the gov does not want, it hurts exports and farmers and componds the effects of the drought. So they may go up but it will only be a little bit, OZ would be hurt by big rises. They are in a catch 22 situation.
As for aussies, they love houses, they totally got burnt in the share market, superannuation has lost most people a small fortune so what do they want Houses.
Steer clear of apartments, no so popular here and too many being developed, buy houses in good areas which you have studied. EG, I bought in Buderim, why, cooler temps than inland, 5 minutes to beach, good schools, extremely green and attractive, and limited land for development. Buy near beach too, they are not making any more of those are they? Inland can be OK, growing towns tho please, look at what development is coming in people here want facilities. And watch your aspects, dont buy West facing you will boil, check out western suburbs carefully, they can become Pom orientated, but the Aussies are in the know, one hot summer and those places are a bit harder to sell.
Do I think prices will drop, a big resounding NO. They may not continue on at 30%+ a year, but there is way too much demand over supply. All comments are based on SE QLD, each state is very different.
