NRAS Queensland - On the road up again
A string of upbeat news and stats about the Queensland property market is giving investors reasons to believe that the state's hiccups of the last few years are finally over.
Ask us about the strong areas and the investment story that supports why those areas are head and shoulders above others - 1300 67 27 28
The Real Estate Institute of Queensland (REIQ) reported a 40% increase in sales volume for units and townhouses during the June 2013 quarter over the same period last year. (source
Excerpt From The 2013 November Market Report Your Investment Property Magazine)
South East Queensland is on the ascendency.
While the June quarter is usually weakest of the four quarters throughout the year, REIQ chief executive Anton Kardash says that over the last 12-month period this quarter was actually the second strongest and very nearly wore the crown as the stand out three-month period of unit sales activity.
He adds that the market has sustained the growth momentum it recorded during the September quarter last year and says investors have been enticed by the attractive rental returns they can get. No doubt investors have recognised the strong rental market, including low vacancy rates, and are taking the plunge, he says.
However, first home buyers remain relatively absent, he adds. The report shows first home buyer numbers remain well below historical averages at just 11% of dwellings financed in June, a drop of 35% compared to June last year.
Australia's largest independent property advisory firm believes property prices are set to firm in southeast Queensland during 2014. Gavin Hulcombe, chairman of Herron Todd White, says real estate across the
Sunshine Coast, Gold Coast and Brisbane markets will continue to recover from the low values and sale numbers of the past half-decade.
Australian Property Monitors senior economist Andrew Wilson says that while Brisbane's housing market continues to record gradual increases in housing market activity, the results are mixed between regions, buyer types and price ranges.
However, properties in Brisbane's established inner- and middle-ring suburbs remain popular with buyers, he says. Investors are attracted by high yields, rising rents and solid capital growth potential.
The Brisbane economy is also expected to perform strongly over the medium term, which will translate to increased demand for housing.
There will be benefits from the lower dollar translating into increased activity in the mining and tourism industries, says Wilson.
The expected surge in job seekers from the southern states will lift the population significantly in southeast Queensland.
Vacancies drop as rental demand surges
Another solid indicator of impending recovery is the falling vacancy rates across the state, which are translating to stronger yields.
REIQ reported that the vacancy rate across Brisbane had dropped to 2% in the June quarter, showing that competition among renters is high. A constricted rental market is evident in other major centres, all recording an average vacancy rate of less than 3%.
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Consider your tenants... Key facts about NRAS
Queensland or anywhere else in the country, investment in property is all about having the right property in an area that has high demand for ideal tenants. Tenants under the NRAS receive a discount of up to 30% giving the investor an almost unfair advantage when it comes to attracting long term tenants.
So in terms of a secure reliable rental incomes, NRAS investment property is very attractive and very difficult to ignore as an investor.
Add to that rental income reliabilty, the Governments NRAS annual contribution of $10,350 tax free. Those two reliable sources of income together makes NRAS investment property impossible to ignore for all serious property investors
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