Investors Find Bargains In Queensland As Affordability Improves
Savvy investors are likely to find some bargains in the Queensland housing market as affordability begins to improve in the state.
Queensland was hit by devastating floods last year, but the long-term prospects for the state appear very positive.
This means lower house prices now could create a great opportunity for property investors to benefit from the state’s future prosperity.
As well as tourism, Queensland has rich natural resources. As the mining industry grows there should be plenty of opportunities for investors, with a regular stream of people searching for rental properties in the state.
But while the future looks rosy for the state, property is still very affordable, according to the Real Estate Institute of Queensland (REIQ).
REIQ chief executive Anton Kardash said: "Housing affordability is the best it has been in a number of years in Queensland."
Furthermore, a recent Real Estate Institute of Australia report showed home loan affordability in Queensland is now at its highest level in the state since 2009.
It seems low interest rates and lower prices are jointly creating a favourable housing market for investors.