Queensland Property Growth is Leading the Way
- July 31, 2018
- Posted by: wpgroup
- Category: Economics, Future trends, Investment Property
Here is more confirmation on our previous commentary that Queensland is leading the way. The housing market will lead the country in capital growth in the coming years. NSW and Victoria continues to slide. Queensland will increase by 0.7% in the next year and 1.3% in two years.The areas that will benefit from this is Brisbane, Cairns, Gold Coast,and Sunshine Coast. The outlook for rent is also positive even though lending for this sector has been tight.
Purchases in new properties has been active with 32% of buyers in this market in the second quarter of 2018. The underlying reason has been the job creation and infrastructure , that has triggered interstate migration of professionals growing.
In addition the 2018-2019 State Budget has provided the positive and confidence for the economy. Here are some of the measures
- Infrastructure program over 4 years $ 45.8 Billion
- Jobs 38,000
- Road and Transport $ 4.9 Billion
- Education and Training $ 14.1 Billion
- Back to Work over 4 years $369 Million
- Education and Training $14.1 Billion
- Health $17.3 Billion
- Community Safety $3.5 Billion
- Child and family services $1.3 Billion
- Lowering the cost of living $5.6Billion
The debt level is manageable as is good debt on infrastructure to grow the economy and not fund social services. The regions will benefit as follows
- Construction of the Cairns Performing Arts Centre $ 5 Million
- Ongoing development of the Gladstone, Bundaberg and Rockhamptom $ 83.5 Million
- Contribution towards The Mackay Ring road $115 Million
- Toowoomba Second Range Crossing Project $ 534.3 Million.
In conclusion the State of Queensland is heading in the right trajectory.