The real estate market is already off to a flying start this year. Investors and home buyers who are thinking about making a purchase in the coming months can look at the activity we have already seen in 2014 to get an idea of what is happening in the property market.
While prices did climb in 2013, with research from RP Data showing property values jumped 9.8% across the combined capital cities; historically low interest rates should make buying a home or investment property more affordable.
An overview of the Australian real estate market.
Economic recovery has allowed more people to become property owners over the past few months. An increase in jobs and a decrease in unemployment in major cities have allowed more people to relocate and make a purchase instead of renting. The housing market is expected to remain strong throughout the remainder of 2014.
Some key factors that are expected to contribute to the strength of the market include:
- A positive outlook from both property owners and tenants
- An increase in the number of commercial spaces that are being converted to residential buildings
- Steady increases in the cost of residential properties
Real estate trends in Brisbanes Bayside.
Brisbane is a city that has seen slow and steady growth. Great deals can be found in outlying suburbs around the city, and investors may enjoy high rates of return once the steady growth of the city's real estate market reaches these suburbs. Looking at the economic climate in individual regions help buyers decide which areas are best for housing investment and ownership.
The following lists the respective median house prices changes for several of the suburbs around the Redlands, for 2013.
- Redland Bay 1.9%
- Victoria Point 4%
- Cleveland 0.1%
- Ormiston 7.8%
- Wellington Point 2.1%
- Alexandra Hills 4.4%
- Wakerley 6.7%
- Birkdale 1.5%
For further information, and to put yourself in the best position with valuable information and guidance, contact a trusted consultant from Mortgage Choice on 07 3286 7711.