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Well the longest election campaign in recent history is over and it looks like the coalition will be returned with a majority government. What does this mean for the property market?
|Certainly there will be now some certainty in the market as the 2 major parties had different views on tampering with the negative gearing laws for property investors. As most astute investors were aware, the labour government wanted to abolish negative gearing for all but newly built properties. The repercussions of this change is now a moot point at least for the next 3 years or the next election when the discussion will no doubt be raised again.|
There has been lots of talk of late about the prognosis for the property market over the next 18 months with some commentators forecasting doom and gloom and others more optimistic. The lesson of course is not to believe either side and make your own assessment from the economic fundamentals of where you want to invest.In the interim, the returned federal government has stated numerous times over the past few months that they have no intentions of interfering with the current laws. This should send some stability and confidence back into the property market for both investors and home buyers.
|I have always been an optimist with the prospects for investing in an around the Brisbane area as many of our investors are aware and have prospered from. Although there seems to be an oversupply of units in some areas, there are still some pockets around Brisbane where the average price of housing is still around the $300,000 mark with adjoining suburbs well above this price range. Although some of these suburbs might be classed as undesirable, history would dictate that eventually there will be encroachment from adjoining suburbs with the resultant capital growth.|
Recently, the latest NAB residential property survey picked Queensland and Victoria as having the best capital returns in Australia over the next few years. In addition, they mentioned Brisbane in particular as having the highest expected growth for 2017. Remember that our Business Development Manager, Daneen Littlejohn or our owner Chris Frederiks can assist you with all your rental appraisals as well as any of your property management questions or concerns.