Brisbane’s outer rim is drawing families who are on the hunt for wide open spaces
2015-07-13
RECORD low interest rates could be the spark needed to lift owner-occupier activity, with Brisbane’s outer rim already seeing an influx of families opting for wide open spaces.
Major property developer Mirvac executive head of residential John Carfi said there was a ‘consistent and ongoing increase in the new detached market in the last financial year”.
“We’re now seeing a steady rise in the new land market with a growing number of local owner-residents taking advantage of low interest rates and jumping on the opportunity to upgrade,” he said.
“The established homes market is also experiencing strong growth (around 4 to 5 per cent) which is largely due to a decline in available stock resulting in higher house prices. This is evidenced by the increasing number of homes selling in the $500,000 to $1 million price band since the GFC.”
CoreLogic RP Data senior research analyst Cameron Kusher said mortgage rates were expected to remain low over the next 12 months.
With prices at record highs in southern states, more affordable parts of the country, including “certain pockets” of Brisbane and the Gold and Sunshine Coasts could see a lift in activity.
“We would expect the dramatic differential in affordability in these areas relative to Sydney and Melbourne will drive more buyers to these areas,” he said.
Mr Carfi said the Brisbane market was expected to keep growing regardless of what occurred down south because it “remains significantly more affordable than Sydney and Melbourne”.
“A huge drawcard to this location is the lifestyle that comes with it. You can live in a peaceful pocket of outer Brisbane yet have all the amenities you need right on your doorstep.”
Mirvac has just added the Queensland suburb Bridgeman Downs to its list of residential communities, with a flood of interest registered for its 26 Darien St blocks.
Latest Australian Bureau of Statistics figures show dwelling approvals were at high levels, with 19,414 approvals across the country in May, up 2.4 per cent over April and 17.6 per cent year-on-year.
Mr Kusher said the annual number of dwelling approvals had now gone to a record high in Sydney, Melbourne and Brisbane.
“These three capital cities accounted for 74.2 per cent of all capital city dwelling approvals over the past year. The data indicates that the heightened level of housing construction is persisting which is good news as the economy transitions away from mining investment. Housing construction has a significant multiplier effect throughout the economy.”
Source：news.com.au
“We’re now seeing a steady rise in the new land market with a growing number of local owner-residents taking advantage of low interest rates and jumping on the opportunity to upgrade,” he said.
“The established homes market is also experiencing strong growth (around 4 to 5 per cent) which is largely due to a decline in available stock resulting in higher house prices. This is evidenced by the increasing number of homes selling in the $500,000 to $1 million price band since the GFC.”
CoreLogic RP Data senior research analyst Cameron Kusher said mortgage rates were expected to remain low over the next 12 months.
With prices at record highs in southern states, more affordable parts of the country, including “certain pockets” of Brisbane and the Gold and Sunshine Coasts could see a lift in activity.
“We would expect the dramatic differential in affordability in these areas relative to Sydney and Melbourne will drive more buyers to these areas,” he said.
Mr Carfi said the Brisbane market was expected to keep growing regardless of what occurred down south because it “remains significantly more affordable than Sydney and Melbourne”.
“A huge drawcard to this location is the lifestyle that comes with it. You can live in a peaceful pocket of outer Brisbane yet have all the amenities you need right on your doorstep.”
Mirvac has just added the Queensland suburb Bridgeman Downs to its list of residential communities, with a flood of interest registered for its 26 Darien St blocks.
Latest Australian Bureau of Statistics figures show dwelling approvals were at high levels, with 19,414 approvals across the country in May, up 2.4 per cent over April and 17.6 per cent year-on-year.
Mr Kusher said the annual number of dwelling approvals had now gone to a record high in Sydney, Melbourne and Brisbane.
“These three capital cities accounted for 74.2 per cent of all capital city dwelling approvals over the past year. The data indicates that the heightened level of housing construction is persisting which is good news as the economy transitions away from mining investment. Housing construction has a significant multiplier effect throughout the economy.”
Source：news.com.au
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