Queensland Powers On
Housing affordability has hit a record low, with the latest HIA/Commonwealth Bank Housing Affordability Index falling to its lowest level since it was established in 1984. House prices are still strong in South East Queensland which is driven mainly by purchasers from New South Wales and Victoria escaping the southern regions in search of a better life style in the sunny north.
The rental market is also on the rise which is very good news for the astute property investors who are reaping the benefits of high returns particularly in the housing sector.
One of the main reasons for the strength within the rental sector is simple, there are greater opportunities in Queensland for young families to rent a new home in a good area and enjoy a relaxed life style while still getting ahead, so the rental market is showing all the signs of maintaining strong growth in the near future due to steady migration levels.
The population growth to South East Queensland has slowed down to approximately 1000 people per month but this is still a strong influx and there is no immediate end in sight
.