Courier Mail Highlights Vystal Development Growth

10/09/18

Brisbane Market Median Price Record As Five-Year Gains Reach 30 Per Cent

Courier Mail Highlights Vystal Development Growth

Page 6 of today’s Courier Mail (10/09/2018) boasts a 2.5 percent rise in Brisbane’s median house price to hit a record breaking $673,000.

REIQ’s Chief Executive Antonia Mercorella said the market in the Brisbane local government area (LGA) had grown almost 30 per cent over the past five years thanks to ‘steady, sustainable growth’ giving buyers confidence.

“Over the medium term, the greater Brisbane house market grew 20.1 per cent or the equivalent to nearly $88,000 for the past 5 years” Ms Mercorella said.

Vystal Developments Among The Top Ten Growth Suburbs

Vystal has house and land and townhouse developments across 24 Queensland suburbs. Of these 14 have seen above average growth over the past five years.

The Courier Mail today names Bridgeman Downs one of the top ten growth suburbs in Brisbane North. Set 13km north west of the CBD, the growing suburb has seen 21 sales in the past quarter with a median sale price of $740,000 a staggering 13.8% increase since 2013.

Other stand out Vystal Developments are located in:

Chermside West               32.2%

Eagleby                                29.7%

Pimpana                              25.7%

Newport                              24.6%

Burpengary                        21.8%

Thornlands                         21.1%

Reduction In First Home Buyers Grant Did Not Deter

The change in amount from $20,000 to $15,000 that came into affect July 1 has done little to deter buyers from entering the Queensland property market as National data from the ABS show that the number of finance approvals for first home buyers is now at its highest level in eight years.

In Queensland the number of approvals has increased almost by 10 per cent – proof that first time buyers are not afraid to buy a home with or without the state grant.

New buyers are keen to get into the Brisbane and regional markets as median house prices continue to grow.

Brisbane Becoming Renters Dream

Even more good news for Queensland investors is that the state has had the biggest improvement in rental affordability in the past year. Outperforming the rest of the country the Adelaide Bank/REI Housing Affordability report shows 22.2 per cent of family income is being spent on rent – a 0.9 percentage points over the quarter and 0.8 percentage points less than the same time in 2017.

REIA President Malcolm Gunning expects renters to see even better gains going forward given the size of the building supply pipeline. He said much of the construction boom centered around Brisbane and the Gold Coast was aimed at investors “and they’re all looking for tenants”.

Possibly One of the Best Times to Invest

With such staggering growth across the Queensland residential market, married with the demand for rental properties, cheap rents and low vacancy rates, it could be said that now is the time for property investment.

Contact Vystal Today For A Free Wealth Consult

Vystal has helped hundreds of Australian’s invest in the Queensland property market as evidenced by the average median grown of their developments over the past five years, highlighted in the Courier Mail. Contact Vystal today and receive a free Wealth Consultation where our specialists can take you through ways of minimising tax, maximising government grants and incentives, owning your home sooner or entering the property market. Call 1800 VYSTAL.