Queensland recovery by 2010-11: report

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Property investors who buy now in Queensland will have timed themselves into making major gains in the next couple of years, according to an investment report out this week.

The Midwood Queensland Investment report says the state's property market will begin to rise again within the next year or two, possibly by as much as 30%.

The report is basing the next predicted boom on the commonly accepted theory that property cycles usually last about seven years. The peak of the last boom in most parts of Queensland was in 2003.

"The scale of the boom will reflect the extent that median prices have fallen in the trough, which could be as much as 20% throughout the state," says the report, by property expert Bill Morris. "Hence, the next uplift should be at least 20% and possibly 30% beginning in 2010-11."

The report goes on to tell investors not to expect a gradual increase in values, but rather a "quantum rise in land, house and apartment values".

"If we can weather the current storm, there will inevitably be sunshine on the other side as historical trends emerge with the next cyclical upturn," says Morris.

Queensland has already shown some signs of positive growth this year, with the number of detached new home sales in February up 21.7% over the previous month.

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