A blog about news and views regarding Brisbane property for sale.
Growth in property prices may be easing in the short term, but investors are poised to reap big gains over the next 10 years as housing shortage continues to worsen according to a new report.
The Housing Industry Association (HIA) estimates that by 2020, taking into account of the current population projections and home building trends, Australia will see a cumulated housing shortage of 466,000.
The Courier-Mail is trying to pump up the property market, with this story today about bargain hunters picking up luxury homes cheaply across Brisbane. I guess this story could be read both ways, especially if you read enough to find this buried deep in the story:
Across the southeast corner, auction results were not as bullish, with Australian Property Monitors reporting a clearance rate of just 35 per cent for the weekend.
Spring Mountain Estate is offering a great deal until 25 June 2010 for people interested in Brisbane property for sale. They have parcels available about 45 minutes from Brisbane and the Gold Coast. If you are one of the first 33 buyers to settle on a block of land you will receive a $15,000 rebate as well as a chance to win $25,000 in cash!
Spring Mountain has a special deal
The Courier-Mail has a story today about how owning a home remains a pipedream for prospective buyers in southeast Queensland, with a new study showing the area is critically unaffordable.
The “State of the State” report compiled by Reed Construction Data for Master Builders Queensland shows Brisbane, the Gold Coast, Sunshine Coast and Redlands remain critically unaffordable with a combined median house price of $450,000.
International standards recognise an affordable house as three times household median incomes, but in Brisbane and the Gold Coast, prices are more than seven times the average income.
Master Builders director of housing Paul Bidwell said each region in the report was considered at least “unaffordable” by world standards.
Median prices in Toowoomba, Rockhampton, the Fraser Coast and Ipswich were all more than four times incomes. Bundaberg was the only region to score below four.
First home-buyers led the way in the Brisbane property market this year, giving the market a much-needed boost in the midst of the global financial crisis.
Market newcomers scooped up as much as $21,000 in first home-buyer grants for their pivotal role in buoying the flagging market.
The deal was sweetest in Queensland because the State Government also waived stamp duty for first home buyers.
Property priced about $500,000 drove the Brisbane market in 2009.
(source)
