This might be interesting for a few people. Using residex as one of the main index providers for residential real estate instead of medians this is the capital growth for houses by different state capitals during the 2010 calendar year.
Note the underperformance of the resource states QLD & WA, a trend that is also evident on a 3yr time frame.
Go Canberra!
Andrew, what are you thoughts on the Brisbane market in 2011? I'm thinking about finally making the plunge into Logan – I've been watching the market for the last 18 months and it has been stagnant (if not declining a little as per your graph).
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
I am always perplexed as to why people consider brisbane represents the QLD property market. QLD is a big state. Seems a little like saying that the Canberra market represents the Australian Property Market because it is our capital city.
Intrigue wrote:I am always perplexed as to why people consider brisbane represents the QLD property market. QLD is a big state. Seems a little like saying that the Canberra market represents the Australian Property Market because it is our capital city. Good point! I should have said the resource state 'capitals' have underperformed. As we know there are markets within markets on a city level (and smaller) and definitely on a state level.
Jamie M wrote:Go Canberra!Andrew, what are you thoughts on the Brisbane market in 2011? I'm thinking about finally making the plunge into Logan – I've been watching the market for the last 18 months and it has been stagnant (if not declining a little as per your graph).
Cheers
Jamie
Logan has been under pressure, the yields are really starting to push up in that region mostly from decreasing prices rather than increasing rents. Very generally closer into the Brisbane CBD has held up much better than areas like Logan.
My thoughts are that predicting the future is very difficult, much better to have an investing strategy and goals and work towards them systematically.
Having said that I have seen genuine distressed sales increase over the last six months and I would expect if you have the patience you can pick yourself up some bargains in 2011
I would also expect WA and QLD (including Perth and Brisbane) to be out performers over the next few years on a national scale as well.
Thanks Andrew, appreciate your comments.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
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