Confidence returns to the housing market in Queensland

Confidence returns to the housing market in Queensland

According to the ANZ/Property Council survey for the 2017 December Quater, confidence in the property industry has risen to its highest point in four years. The lift in mood was consistent across states and the industry became more optimistic on the capital growth prospect of all key asset classes.

“The remarkable thing about these results is how strong they are,” said Property Council of Australia chief executive Ken Morrison.

There is a rising confidence in the Queensland Property price outlook, with the recent NAB survey of 300 property industry respondents.

The NAB Quarterly Australian Residential Property Survey for the September Quarter showed expectations were on the up across most jurisdictions, according to NAB Chief Economist Alan Oster.

“The NAB Residential Property Survey shows an improvement in market sentiment across most states last quarter, but we continue to see market conditions that vary across different locations,” Mr Oster said.

What is the building industry speculating? according to their national survey of building and construction business confidence is at an all-time high with a healthy pipeline of work to continue into to 2018. The residential area seems to be the strong performer for the South Eastern States.

Business conditions in the building and construction industry continued to improve in the September quarter, with current activity supporting good profits and
growth.

A decade high – September Quarter  59.2

As a result the index for business conditions, which
includes metrics for current conditions for residential
and non-residential business, and measures performance
against a range of business indicators, including
profits, turnover levels and work-in-progress, is at aBuy decade high, recording an index score for the September quarter of 59.2.

 

Confidence is returning to the market and for Queensland, there is a trend beginning to appear for the residential market and property buyers are looking at Houses in preference to units. This could be for a number of reasons, with recent bad press about the possible unit price crash in the Southern States, excellent value for money in the housing market at the moment and the First Home Owners Grant being extended.

Enjoy your weekend of Open Houses and Auctions, weekends are my favourite part of the week, it’s not my day off, but I love the excitement of helping you buy your next property….. property is my #passion

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