Employment growth and a strong economy help Queensland prosper while others lag behind. Brisbane achieved stronger capital growth in the last year than any other state capital, with a huge 14.8% increase. Things were almost as impressive in country Queensland, which saw growth of 14.63% placing it second only to the NT.
The gains in the three months up to July – 5.45% in Brisbane and 4.25% in country areas – are also the second highest in the country, making for a very positive picture over all.
“The economy in QLD is extremely strong,” says Robert Walker, executive director, Property Council of Australia – Queensland. “We also have strong growth of employment and there’s a logical flow-on effect to demand [for property].”
This certainly seems to be the case, with the booming Queensland economy going from strength to strength.
Average rent is a healthy $330 in Brisbane and $320 in the country, showing respective returns of 4.28% and 4.66%.
Strong-performing suburbs include Deeragun, 16km west of Townsville
, which grew 25.49% year-on-year, and the rural residential Brisbane suburb of Berrinba, which was up by 24.4%.
Mundingburra, a suburb of Townsville, also performed well, achieving 20.64% growth in the 12 months to July, making for a very positive over all picture for Queensland.
“All predictions are that the economy will still grow around 3.5-4% above the predicted national average,” says Walker. “There’s no sign of our population growth abating and we’ve seen the state government and I suspect the federal government will continue to invest large amounts of money in building infrastructure.”
Do you have more than $120k in your super fund? You could use your super to buy property - Find out how
Top Suburbs :
Get help financing your investment
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.
We value your privacy and treat all your information seriously - you can check out