Astute investors and home buyers alike are quickly returning to the property market as a proven stable investment vehicle, after the dramatic slides in both share markets and superannuation managed funds during the 2009 global financial crisis.
Queensland’s economic growth has exceeded national growth now for 12 years straight. Yet for 7 of the last 8 years, dwelling production has been undersupplied.
The latest issue of the UDIA’s construction industry and performance report says that South East Queensland’s population growth, driven by overseas migration, is creating a demand for housing that is not currently being matched due to constrained dwelling production.
The accumulated undersupply of homes in Queensland is forecast to reach approximately 50,000 – more than a year’s production by 2010, the report added.
As a result of this demand/supply equation, rents continue to rise. Long-term projections are robust for continued strong returns and property value increases in the area.