Is the Sunshine State on the rise for buyers?
Property buying can be a simple process, and we've recently gone over just how effectively you can have access to potential capital gains when you use the services of a Cohen Handler buyer's agent.
However, when it comes to choosing the lifestyle that you want for you or your family, nobody can give you better advice than yourself. Seriously. If you want to know where you will flourish around the country, then consulting with your kids and partner could really help you to make the best decision for everyone involved.
What could buying in Queensland mean for your lifestyle?
If you're thinking about buying in the Sunshine State, how much thought have you actually given it? Probably not enough, what with Sydney and Melbourne dominating the markets in recent times. Just look at the number of units sold in the last year in Brisbane and Sydney – 4,671 compared to 36,130. An incredible difference.
But what could buying in Queensland mean for your lifestyle?
Queensland taking ground
The latest CoreLogic RP Data Pain and Gain Report from December 2015 shows that Brisbane is showing strong results in terms of reselling houses. Units aren't seeing the same returns, but Brisbane is the fourth best capital city in the country for returning capital gains when properties are sold.
CoreLogic states that a 'pain' rating is given when a property makes a loss after being sold, while gains are the opposite. Brisbane has only a 5.3 per cent pain rating when it came to houses, meaning that 94.7 per cent of all properties that have been sold in 2015 in the city were for a profit. Investors take note. By contrast, regional Queensland felt pain in a comparatively whopping 15.4 per cent of houses – although that's not necessarily bad news for buyers.
While Brisbane sits at 5.3 per cent, Sydney, Melbourne and the Australian Capital Territory are still ahead (2, 2.5 and 3.3 per cent respectively). However, Brisbane offers a very different lifestyle in the tropical north of Australia, and that's a point of difference home buyers might take into account.
What about on the Gold Coast?
Long-regarded as a tourist hot spot (and for great reasons), the Gold Coast offers a very affordable entrance point for anyone after a beachside property. Fancy a holiday home?
CoreLogic states that 14.8 per cent of Gold Coast property transactions in 2015 saw losses, and the median amount that was lost came in at $35,750. On the other hand, the 85.2 per cent of homes that made a gain had a median increase of $100,000. For astute investors, that might be fantastic news for building on an existing portfolio, and owner-occupiers might well look to get in on the action as well. Why wouldn't you, with a lifestyle such as this:
The average period that a seller held onto their 'pained' properties was 7.5 years, while those who saw gains were titleholders for around 10 years. Raising a family or even getting out of the big city and leaving behind the stresses of your job are some of the ways you could use your Gold Coast property. While there are so many properties that are being sold for less than they were purchased, it's also an easy way to make a shrewd financial move. If the market turns around in the near future, then you're in the money when you move the title on!
If you want to open up an ear for some advice from an expert, get in touch with a buyer's agent from Cohen Handler. We'll work with you to help find the best property for your desired lifestyle – we might even stumble across an absolute bargain as well.