Brisbane Housing Price to Rise by as Much as 7% in 2020.Tips and Advice
All indicators are that 2020 is going to be a bumper year in the property market and this is your opportunity to take advantage of that.
In this blog we look at the predicted growth for Brisbane in the coming year. SPOILER ALERT – the outlook is sensational.
I’ll also explain to you the influence low fees have on the building industry, plus I give you some hot tips on modern kitchen designs. Finally, I share with you a case study of one of our previous projects that I’m sure you’ll be impressed by.
So, let’s get straight into it, starting with our rosy outlook for the coming year.
Housing prices have bounced back in recent times and all indications are that the trend will continue into 2020.
The market, that had seen a downturn through 2018 and into early 2019, is showing signs of recovery, which is great news for homeowners, particularly in South East Queensland.
So, what is driving this recovery?
Well, there are 3 main factors at play. Rate cuts by the Reserve Bank of Australia. Relaxed lending restrictions in the form of the Australian Prudential Regulation Authority removing the requirement that banks assess a borrower’s capability to service a loan at 7 percent. Plus, Australia is still experiencing strong population growth, increasing the demand for housing.
These 3 factors are leading to a growth spurt that, at least in the case of Brisbane, appears set to continue well into the foreseeable future.
Study predicts strong growth in 2020
Observations of the market show significant growth over the later part of 2019. However, numerous analysts are predicting this growth to not only continue, but actually increase, in the coming year.
One such group of analysts are those from SQM Research who recently released a new report that predicts growth of between 3 – 7 percent for Brisbane in 2020.
The team looked at several different scenarios. The one deemed most likely by managing director Louis Christopher is one where we see an improving economy and stead interest rates with no further intervention from APRA in terms of lending restrictions.
Why 2020 is a great time to build or renovate
With continued strong price increases predicted for Brisbane, 2020 is shaping as a great time to build or renovate.
Interest rates are at an all-time low. If you were ever going to borrow money to build or renovate, this coming year is the year to do so. Plus, many builders are only just starting to get busy. It’s a great time to get really competitive quotes.
The smart move would be to act sooner rather than later. As the growth continues builders will become busier and the price of materials will rise. And whilst the later part of 2020 will still be booming, getting an early start on the design phase of your project will enable you to take full advantage of these favourable conditions.
Invest in great design
It goes without saying that best returns on investment will be seen by those who invest in great design.
Great design not only increases the resale value of your home, it can also save on the actual construction costs. Of course, the major benefit is in terms of lifestyle with a bespoke design to suit your current and future needs.
Call us TODAY
Whilst the holiday period is almost upon us, there’s still time to contact us today and get your project booked in to commence early in the new year. We can meet and discuss your needs, so everything is set up and ready to go at the start of 2020.
So, contact us today and let’s get the ball rolling so you can take full advantage of the favourable real estate growth in the coming year.
PRICE VS. QUALITY
Sometimes changes are made that are good for the industry, and sometimes changes are a mistake.
In this article we look at the impact one particular change has had on the industry
and what that means for you the homeowner. READ MORE …
MODERN KITCHEN DESIGNS
Times have changed and as such, the way we use certain spaces has changed as well.
The kitchen is a great example of this. READ MORE …
CASE STUDY: CHARACTER HOME RENOVATION BULIMBA
Check out this beautiful character home renovation, where we look at the goals
of the project and cover how these goals were achieved. READ MORE …
DION SEMINARA, DION SEMINARA ARCHITECTURE
Hi, I am Dion Seminara, practicing architect and licensed general builder for 20 years as well as an environmental sustainable design (ESD) expert. I graduated from Queensland University of Technology (QUT) with honours, QLD in 1989. Registered as an architect in 1991 and registered as a builder in 1992, I am also a fellow member of the Australian Institute of Architects (AIA). Having received 12 ArCHdes Residential Architecture Awards, LJ Hooker Flood Free Home Design Award and the 2016 AIA Regional Commendation for Public Architecture, my expertise with both residential renovation (to all types of houses, especially Queenslanders, 50s/60s/80s), new contemporary homes and luxury residences has earned me a reputation as one of Brisbane's architectural specialists in lifestyle design architecture, interior design and landscape design.