Real estate investment QLD new properties are drawing interest from investors due to its bright economic prospects. Contrary to pessimistic forecasts associated with COVID-19 pandemic, market sentiment has proven otherwise and this growth should lead to future job creation as well as increased demand for residential real estate properties in QLD.
Investment property in Queensland can be an effective way to generate regular income and build wealth, but selecting the ideal property requires many considerations – most notably location. Finding an area with stable growth history and consistent positive cashflow will have the biggest effect on overall performance of an investment grade property.
Investors should take several factors into consideration when selecting an investment-grade property, including prices, vacancy rates, average rental yields, type of property chosen (such as high-rise apartments that may cause prices to decrease over time) as well as potential signs of overheating such as high rental vacancy rates.
Queensland has experienced strong capital growth throughout most of its state and even overtook Melbourne in median dwelling value last December. This success can be attributed to mining and tourism activity within Queensland’s economy as well as affordability relative to Sydney and Melbourne resulting in interstate migration which further drives price gains.
Land tax changes loom large on the horizon, which will impact property investors. Starting 2023, landlords will be assessed on their portfolio value across Australia rather than just where their properties reside – this change will have profound effects on many property owners with multiple holdings in Queensland.
Given these changes, it is imperative that landlords understand the ramifications of these new rules prior to making investment decisions. If you’re thinking about purchasing property in Queensland or another state, seek expert advice about how these new laws may impact you directly.
Code Property Group has extensive experience helping property investors to identify suitable investments. If you would like more information, reach out to us now.
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