Senior Economist, Jason Anderson from BIS Shrapnel, says, "House hold income growth in Queensland has been significantly higher than NSW or Victoria over the past 3 years, which, together with an extended phase in rents and reduced vacancies, translates to a positive outlook for good positive growth for Queensland. It adds up to still being a very strong fundamental environment in terms of property price growth over the course of this year and into 2009". BIS Shrapnel forecasts, Brisbane is projected to show the best growth over the next 3 years and, by 2010 will be the leading long-term growth average of Australian capital cities. BIS Shrapnel research also shows that Brisbane, which of course represents a barometer for the whole SE Queensland region, is showing an imbalance between supply and demand and as a result, is set to affect prices. Jason Anderson believes the Brisbane capital will soon face a direct shortage of housing, especially for renters.
This is hopefully good news for those of us already in the qld market or looking to invest further.
of course if you look hard enough you can find a comment saying the exact opposite.
i would recommend looking for independant advice.
Michael Matusik is forecasting similar outlook… unsure how 'sub prime' in USA may affect this outlook until
end of this year when more data will be available.
I feel positive still though moving forward… but maybe not as positive as Bis shrapnel & Matusik…
hopefully I'll be proved wrong by them as I have 5 properties plus an interest in a
boutique golf course 14 lot subdivision (available later this year) in SEQ at the moment.my thoughts are:-
if you don't have a property … buy one, & if you do … buy another!!
it may be a slightly bumpy ride in the very short term, but it sure will be worth it in the mid term I believe…
don't die wondering!!
mackar wrote:Michael Matusik is forecasting similar outlook… unsure how 'sub prime' in USA may affect this outlook until
end of this year when more data will be available.
I feel positive still though moving forward… but maybe not as positive as Bis shrapnel & Matusik…
hopefully I'll be proved wrong by them as I have 5 properties plus an interest in a
boutique golf course 14 lot subdivision (available later this year) in SEQ at the moment.my thoughts are:-
if you don't have a property … buy one, & if you do … buy another!!
it may be a slightly bumpy ride in the very short term, but it sure will be worth it in the mid term I believe…
don't die wondering!!
Hi Mackar,
I agree with all your comments mate, it is still very worthwhile being involved in the investment cycle.
I hope we all do well and pick up some good bargains over the coming year or so.
cheersDavid Layton wrote:Senior Economist, Jason Anderson from BIS Shrapnel, says, "……. translates to a positive outlook for good positive growth for Queensland. It adds up to still being a very strong fundamental environment in terms of property price growth over the course of this year and into 2009". BIS Shrapnel forecasts, Brisbane is projected to show the best growth over the next 3 years and, by 2010 will be the leading long-term growth average of Australian capital cities. BIS Shrapnel research also shows that Brisbane, which of course represents a barometer for the whole SE Queensland region, is showing an imbalance between supply and demand and as a result, is set to affect prices. Jason Anderson believes the Brisbane capital will soon face a direct shortage of housing, especially for renters.
A lot of people are very pessimistic about price growth in Brisbane at the moment. With talk of even more interest rates, the market appears to have slowed right down. Some real estate agents and mortgage brokers have told me that they have sold very few homes and written few or no loans in the last 2 months. Are you suggesting that things will pick up soon? The signs do not match up with Jason Anderson's optimistic remarks.
Some people see the glass as half full, some see it as half empty and some don't see the glass at all.
Statistically, I agree with both Jason Anderson and Matusik and I am happy to see them talk it up, however, untill public confidence is restored, I feel that the market will stay slow. If housing interest rates are indeed lifted again in May, i fear that it will be some time before we will see the investors back in the market place.
There is another side to the equation that I believe needs to be adressed and I wrote about it here http://jonchown.topproducerwebsite.com/real-news.asp under the title Why Rents Must Rise.
Jon
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