The 2019 property market is going to be quite interesting indeed. There are a couple of significant factors that will impact the 2019 property market. Both factors are likely to occur at a similar time.
2019 Property Predictions
The first will be the final report and findings of the banking royal commission. The report itself has been recently released by the government. It will take some time for the recommendations to be enforced and adopted by government and industry. The whole process will run into what is currently expected to be a May Federal Election and Federal Elections generally cause a pause in business activity with larger investment decisions reserved until the path has cleared. This all points to steady conditions at best in the first half of 2019.
For SEQ and the main markets of the Sunshine Coast, Brisbane and the Gold Coast. Most analysts are expecting a growth of 3%-6% across various markets in 2019.
This predicted growth is underpinned by generally low vacancy rates particularly in the Sunshine Coast and Gold Coast Markets. The cheap interest rates on offer provided you meet the criteria for lending.
Sydney and Melbourne are both currently in price decline after long periods of growth. This also expects to attract investment into the greater SEQ market.
Another positive factor for SEQ is an expected upswing in major project delivery both private and public. Many of these projects are still in early stages. For the Brisbane and Gold Coast region these projects include:
- Brisbanes Queens Warf Project
- Cross River Rail, Brisbane
- Brisbanes Metro Bus Transit Services
- Gold Coast Light Rail Stage- Broadbeach to Burleigh Heads
- Gold Coast health and knowledge and Cultural Precincts
The Sunshine Coast has a number of region building activities currently underway which include projects such as:
- New Greenfield in Maroochydore City Centre
- The Expansion of the Sunshine Coast Airport
- Health/Medical and mixed-use precinct
These projects are consistent and support a growing economy and population base that will be a beneficial long-term outcome for the property market in general.
So far 2019 is starting steady then cautiously optimistic of reaching those 3-6% growth indicators.
Contact SSKB Developer Consultancy today to talk the experts.