For duplex builders in Queensland, there is no better time to start a property investment project. To help you understand why this is so, below we’ve shared detailed duplex builders post on this Australian city. In particular, the looming boom in its property market.
Let’s be honest, Australia’s real estate market has not been that good in the past couple of years. Even today, you are bound to see signs of Australia property woes everywhere you look. Whether you are in a small Australian suburb or big cities like Melbourne, you are sure to see signs of Australia’s property woes. While this is definitely not good for the market, it is fueling housing boom in a few Australian states. One such state is Queensland.
Right now, its boom time for Queensland housing prices and this is mainly because of property woes in Melbourne and Sydney. These woes are the ones that’ve fueled Queensland property market boom. This has ultimately resulted in Queensland being attractive to many duplex builders.
According to research by Place Advisory, there is an increase in interstate migration. The research goes on to point out that interstate migration will increase in the coming years. Going by the results of their research, this number might be as high as 120,000 by mid-2020. With such high interstate migration, you can expect states like Queensland to benefit even more.
What Duplex Builders Should Know About Queensland Boom
Before diving into Queensland’s real estate market, there are a few things you need to know. Top on the list of things you ought to know as duplex builders is the state’s numbers. Are they favorable for you? Will they bring in the return on investment you have in mind? Furthermore, you need to know its property market is doing since its property woes during 2017-18.
So how is its property market doing? Well, according to Queensland Treasury, Queensland is continuing to show signs of strength. They (Queensland Treasury) advised however that the states’ dwelling investment is currently in its recovery phase.
In terms of recovery, land value in certain areas across the state has risen significantly. For instance, Queensland’s Brisbane area has seen an increase of 6.8% since property woes in 2017. Residential land in this area has also seen an increase or rise of between 5 to 15%. Despite there being market movement variations in Brisbane’s residential land, it is viewed as the largest market sector in Queensland.
Since 2017, it has seen an increase of 7.1% with about 304,000 valuations. More than 126 suburbs have recorded a 15% increase in their value. 16% of these suburbs rose by more than 15%. While this information is very positive, keep in mind that value of 37 suburbs in this area have held steady.
While several Queensland areas have shown significant rise in value, certain suburbs stand out. Woolloongabba, Paddington and Milton are some of the inner suburbs that registered the highest median value rise. Other suburbs that have shown significant growth are;
- Sinnamon Park
Suburbs in greater Brisbane area have also seen an increase in value since their last evaluation. In Alexandra Hills, not only was there an increase in value but also unit developments. Logan city has a slight value increase. Places like Kingston, Woodridge and Logan Central recorded an increase in demand.
For all things duplex investments do contact Duplex Invest. They’ll give you professional advice and help that’ll definitely help you join the list of successful duplex builders in Australia.