In the Media

  • When is the best time to buy?

    Published in: Excel Website
    Published on: 15 Jul 2015

    As with all property purchases, there are great times, average times and risky times to buy and it can be difficult to know if you are committing at the right time.  Regional Queensland is a huge collection of sub markets and the media have a habit of throwing the whole lot together and commenting on the general market instead of focussing on each market for its own merits. 

    Keeping tabs on property values and cycles in your own backyard (even if you’re not in the market) is a great way to stay informed.  There can be exceptional pockets of opportunity to upgrade or invest and there are also times to smartly stay put until the property cycle improves.  The following comments are based on the latest research from the Real Estate Institute of Queensland (REIQ) and current activity with local agents region by region.  Of course it is always essential to seek independent advice before making property purchase decisions. 

     

    Rockhampton: 8/10 Good time to buy

    Rockhampton has seen moderate price growth this year of approximately 1.8% showing that confidence has improved and the market is recovering.  In submarkets such as Gracemere you will find the high level of investment stock that over-heated the market is beginning to level out with opportunities for first home buyers and local investors to buy back into the region at up to $60,000 less than asking prices three years ago.  Local agents are selling these homes and in some cases selling lower than replacement value so it is well worth consideration.

     

    Gladstone:  7/10 Good time to buy

    According to Queensland’s leading property commentator, Michael Matusik, the ‘New Gladstone’ is Gladstone.  The market still has excellent long term growth and the panic to buy in this region in the past resulted in new homes and townhouses selling off the plan at over $600,000.  Once again, the pendulum is swinging back to a normalised market where you can find similar homes and townhouses for around $400,000.  Gladstone will continue to need more homes and the industries that underpin Gladstone are still there.  The fact is over 95% of Gladstone is not employed in the mining industry and it remains very much a successful industrial port location.  Home owners who were forced out of the market can now secure property at prices where growth is possible.

     

    Biloela:  8/10 Good time to buy

    Biloela is like the engine room of the Banana Shire where agriculture, power, mining, meatworks and construction create a solid foundation for low vacancy rates and future growth.  Michael Matusik also agrees that the future of Biloela and the Banana Shire is looking very healthy.   

    “Importantly, new jobs are being created so it isn’t all about mining.  Over the last two years to 2014 around 2,300 new jobs have been created in Banana Shire, many of which are in, or around Biloela.” Michael said.

    There are new homes in this hub town designed specifically for First Home Buyers. Brand new homes are now available with Zero Deposit Home Loans and those eligible would be paying around $298 per week mortgage repayments which is less than renting in most cases. This is value for money, in a growth location and well worth investigating.

     

    About the Future Housing Taskforce
    The Future Housing Taskforce was founded in 2010.  Australia’s key industry leaders have joined forces to tackle the challenges of housing affordability faced by millions of Australians. The Taskforce brings together the best minds in the country to find new and innovative ways to house our future generations. For more information visit www.futurehousingtaskforce.com.au